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What are your favorite quotes from Vladimir Tenev?
Vladimir Tenev is a Bulgarian-American entrepreneur and businessman. He is known to be the co-founder and CEO of one of America’s largest financial services companies, “Robinhood”.
Tenev and his business partner, Baiju Bhatt, started their business in 2010 when they founded a trading company called “ Celeris ”, which then abandoned it soon after and went through much trial and error before their current company “ Robinhood ” does not become a multinational success. and turned them into billionaires.
Tenev was successfully included in the Forbes 30 Under 30 list in 2013. In addition, he also had the honor of being the keynote speaker in one of his prestigious alumni events, UCLA’s 2019 Mathematics Beginning Ceremony.
Here is a collection of the best quotes from Vladimir Tenev:
38 incredible quotes from Vladimir Tenev
1. “The NSCC was reasonable and worked with us to reduce it.” – Vladimir tenev
2. “We understand that our customers are upset, we are doing what we can to re-activate purchases under these names, we want to be clear in communications, and I agree we should have been there a little earlier. “- Vladimir tenev
3. “I just downloaded Clubhouse at random a few days ago. This is my first time using the app. “- Vladimir tenev
4. “As a licensed broker-dealer, we are highly regulated and take clear communication very seriously.” – Vladimir tenev
5. “There was a rumor that other market makers were pressuring us. It’s just wrong. – Vladimir tenev
6. “24 hours later, our team has raised over $ 1 billion in capital, so when we open tomorrow morning, we will be able to relax the stringent requirements we imposed on Friday.” – Vladimir tenev
7. “I heard about this Clubhouse app and thought it had to be part of the simulation, so I just wondered why. I am here.” – Vladimir tenev
8. “It’s a consortium. It is not quite a government agency. I don’t really know the details of all of this. – Vladimir tenev
9. “There are always theoretical limits (when Elon asks if there will be any requirements) … but it won’t impact 99% of customers.” – Vladimir tenev
10th of 38 quotes from Vladimir Tenev
10. “We have marked volatile stocks as the engine of activity.” – Vladimir Tenev
11. “This explains why we had to mark the closure of these symbols only and why we knew this was a bad outcome for customers.” – Vladimir tenev
12. “Robinhood is a player in the financial system. We get a lot of questions: why do you work with market makers, clearing houses. “- Vladimir tenev
13. “There is a large group of people who think investing is serious business because only if you wear a suit in front of your terminal, is it kind of the inherited school of thought.” – Vladimir tenev
14. “No. It was scary – I couldn’t sleep …[we called] NSCC superiors [to] figure out what’s going on and basically there was another call and they lowered it to $ 1.4 billion and then we basically came up with how we’re going to manage risk throughout the day. – Vladimir tenev
15. “To prudently manage the risk and deposit requirements, we have had to restrict the purchase of these 13 shares, we are in a historical situation where there is a lot of activity and a lot of purchases concentrated on a relatively small number. restricted of symbols that go viral on social networks. We’ve never seen anything like it before. “- Vladimir tenev
16. “It was an unprecedented activity. I don’t have the full context of what was going on at NSCC to make those calculations. – Vladimir tenev
17. “It was about 3 billion US dollars, suddenly out of nowhere. I wouldn’t imbue any shade or anything like that. – Vladimir tenev
18. “Market makers execute our trades. They execute the trades of each broker. This was a clearing house decision based on capital requirements. From our point of view, Citadel and the other market makers were not involved in this. “- Vladimir tenev
19. “A lot of these so called memes stocks were going viral on social media and people were joining Robinhood and there was a lot of net buying activity on them, as you all know.” – Vladimir tenev
20 of 38 quotes from Vladimir Tenev
20. “Until then, Robinhood had raised $ 2 billion in venture capital.” – Vladimir Tenev
21. “They gave us a dossier of the filing and the claim was about $ 3 billion – an order of magnitude of what it usually is.” – Vladimir tenev
22. “And to be honest we were, there was legitimate turmoil in the markets with these meme stocks and there was a lot of activity and there was some degree of added risk so it wasn’t. entirely unreasonable. ” – Vladimir tenev
23. “At 5 o’clock in the morning, [they said ok] the deposit is $ 700 million which we paid off quickly. “- Vladimir tenev
24. “Wednesday of last week we just had unprecedented volume, a load on the system.” – Vladimir tenev
25. “In order to protect the business and protect our customers, we had to limit purchases from these stocks.” – Vladimir tenev
26. “I want to be 100% clear. This decision was not taken at the request of a market maker or other market participants. “- Vladimir tenev
27. “I was introduced to your friend Antonio and then he introduced me to you. – Vladimir tenev
28. “I think it’s fair. We must comply with these requirements. Financial institutions have requirements. The formula demanded these requirements. To be fair, we were able to open up, serve our customers. “- Vladimir tenev
29. “There is a clearing broker, Robinhood Securities. Next, we have Robinhood Crypto. All of these entities are different, managed differently. “- Vladimir tenev
30th of 38 quotes from Vladimir Tenev
30. “It has been a surreal week for me. People came out of the carpentry to offer advice. “- Vladimir Tenev
31. “We have absolutely not done this under the direction of a market maker or a hedge fund… the reason we did it is that Robinhood as a brokerage firm, we have a lot of financial requirements, in order to protect the company and protect our customers, we had to limit the purchase of these shares. “- Vladimir tenev
32. “I have no reason to believe that. Then you get into conspiracy theories a bit. I have no reason to believe this is the case. – Vladimir tenev
33. “It’s actually a few companies – there’s a broker, Robinhood Financial, the app you know and love, it handles trades.” – Vladimir tenev
34. “At that time, Robinhood was number 1 on the iOS App Store and pretty close to 1 on Google Play.” – Vladimir tenev
35. “I know. There are processes, these are unprecedented times. They have been reasonable. I think the only thing that is not clear to people. – Vladimir tenev
36. “There are ways to reverse engineer it, but it’s not somehow shared publicly and there is a special element that is discretionary that acts as a multiplier.” – Vladimir tenev
37. “$ 3 billion is a lot and basically the details are – we don’t have all the details, it’s an opaque formula, [but] one is VaR, value at risk. “- Vladimir tenev
38. “Part of what Robinhood stands for is democratizing access.” – Vladimir tenev
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