Thursday, August 6, 2020

Big Short on DBS - $177k profit in 30 days

Exactly 30 days ago, on 6 Jul 2020 ,  we made a call to short DBS @ 22.10 towards earnings( click here )  where we expected a high provision for Covid bad debts or NPL. 

Today , lo behold , DBS announced a 5-fold increase in NPL provisions due to Covid. Upon the bad NPL news, we immediately close our shorts @ 20.33 as we expect DBS to rise for next few days . One student Sniper raked in $177k as a result of this 30-day short. 

Below chart & profit statement screenshots he shared is self explanatory 
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