(When) is Cathie’s 27% discount placing coming?

The Market Ear Picture

Liquidity is an issue, and most people do not think about the liquidity factor until it's too late, including risk managers.

Two takeaways from Friday's sessions;

1, the extreme px axction in Baidu, Tencent Music, Vipshop, Viacom, Discovery, Farfetch, iQiyi and GSX. For more reading on who and how they sold these positions see here. One thing is sure, when even big names trade with this type of liquidity, stability does not come to our minds as one of the strong factors of this market.