I'd agree that the numbers are a mess. One pet peeve of mine is companies counting the additional leverage they are taking out, immediately as bps yield.
Also, that's a NEGATIVE bitcoin-per-share development
Wouldn't one expect negative returns relative to an asset, when leveraging an asset through a bear market? If your assets aren't going up you loose acount value relative to those assets because you need to pay for margin. Most pro LBE people I see seem to understand that. Though I guess arguing a company has positive bps when it doesn't certainly isn't helping their case.
I'd agree that the numbers are a mess. One pet peeve of mine is companies counting the additional leverage they are taking out, immediately as bps yield.
Wouldn't one expect negative returns relative to an asset, when leveraging an asset through a bear market? If your assets aren't going up you loose acount value relative to those assets because you need to pay for margin. Most pro LBE people I see seem to understand that. Though I guess arguing a company has positive bps when it doesn't certainly isn't helping their case.