There will be a race to see who gets out of the door first. ML will be a clear winner. I think ML selling started 10/4, last Thursday.
The bigger issue is that Lift is a crisis of confidence. Any firm with such a model could potentially be hit. It is a question of who is next.
Sooner or later, banks will also withdraw from margin lending firms with such models. Bottom line is, IMO more such firms will fall.
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