Decoding the leaked $XP Ponzi report.
Posted: Jan 22, 2025
- $XP Inc, a Brazilian Investment Management company, may be involved in a Ponzi scheme
- Returns on some funds, like Gladius FIM CP IE, are unnaturally high at 2,492% over five years
- Auditors like KPMG have had issues verifying liquid assets, with 92% of assets unverifiable
- Net inflows for XP are down 36% YoY, indicating potential financial instability
- Extreme volatility in stress scenarios may result in significant losses for investors
- Hindenburg research has had success in identifying fraudulent companies in the past
- The original poster invested in put options, suggesting a belief that XP stock will fall
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