Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/moonski](https://www.reddit.com/user/moonski/) | [Reddit](https://www.reddit.com/r/GME/comments/mo6nw7/let_me_tell_you_the_tale_of_s3_partners_a/) | 

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[DD](https://www.reddit.com/r/GME/search?q=flair_name%3A%22DD%22&restrict_sr=1)

so this tweet blew up a bit - <https://www.reddit.com/r/Superstonk/comments/mnmwyp/and_we_all_know_s3_is_owned_atleast_in_part_by/> - and it seems not as many people are as aware of Mr Ihor Dusaniwsky of S3 as I and some others are.

>Who the fuck are s3 Partners.

S3 partners are, according to their linkedin, " A Data Power Company." whatever that means. I mean it sounds like they use excel formulas & bloomberg terminals to make your lights turn on, charge your phone & heat your home. Well no, sadly. Not even excel can do that.

Founded in 2003, they're a market data and analytics firm, who among other things seem to have carved a bit of a niche in short interest reporting. Fine.

Ihor Dusaniwsky aka iHor aka @ Ihors3 on twitter aka the iHorse, has been there since 2003. He's now an MD. Ok enough about fucking ihor.

[the man himself. the ihorse.](https://preview.redd.it/8ai8cd6k5bs61.png?width=128&format=png&auto=webp&s=cce5e3074b18b93f1f9ca6ac7af723b5d5628359)

>An ominous pdf from 2008.

So as anyone who has watched the big short knows, in 2008 christian bale and his glass eye blew up the market, made a fuck ton of money then he used that money to go become batman. This subsequently put the global economy at risk forcing govts around the world to give gigantic banks bailouts and begin the process now known as ~~brrrrrrrrrrrr~~ ~~money printing~~ "quantitaive easing." But that's not the point here. This is a different big short. The big naked short doesnt quite have the same ring to it though.

In 2008, and 2007, Freddie Mac and Fannie Mae (look em up if you dont know), both GSEs ( Government Sponsored Enterprises) were in a bit of bother because they deal with mortgages and well in 2007 /2008 mortgages were having a pretty rough time. But no big deal right? the govt sort them out and also who cares about trading this pair of businesses... well no one did really as they're pretty boring boomer stocks.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/e20jm54k6ds61.png?width=825&format=png&auto=webp&s=cc419013917a8885bb0fff83a3ab029fb421036d)](https://preview.redd.it/e20jm54k6ds61.png?width=825&format=png&auto=webp&s=cc419013917a8885bb0fff83a3ab029fb421036d)

9.7m volume wheres muh whales?

Now at this time, guesse what, the entire float was owned by institutions - cause boomers and pensions.

But wait a minute [/u/moonski](https://www.reddit.com/u/moonski/) that sounds familiar?Isn't GME... yes we're getting there.

<https://preview.redd.it/4i23pzqh4bs61.png?width=911&format=png&auto=webp&s=03d3479f940affde0c04f325c5545ef6f7db6e53>

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/qscoc2lj6ds61.png?width=911&format=png&auto=webp&s=5140808fdcc19ca7a05ba7a398d3b611d5fe74b9)](https://preview.redd.it/qscoc2lj6ds61.png?width=911&format=png&auto=webp&s=5140808fdcc19ca7a05ba7a398d3b611d5fe74b9)

Now after October 15th (and the low volume days mentioned above), someone decided to *short both the GSEs into the core of the planet* *(*maybe they saw a preview for the big short way before it was released or something i dunno.)

But how can you do this if all da shares are owned already? Who's gonna lend you a fuck load of shares to short sell into sending the price somewhere between the core of the planet and oblivion? Why would you devaule your long holdings lkike this? That seems a shit deal for a share owner. Well someone apparently must have done this because trading volume went to the moon. ™

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/6wbur40l6ds61.png?width=887&format=png&auto=webp&s=ab9c315281c219e4b41649b115144cfdb6d5bb79)](https://preview.redd.it/6wbur40l6ds61.png?width=887&format=png&auto=webp&s=ab9c315281c219e4b41649b115144cfdb6d5bb79)

Now, i fancied myself a bit of S3 partner here so I opened excel got some data about GME volume and I just picked some artibtary period - Feb 8th to March 27th (47 days instead of 44 but whatever).

The same metric for GME showed that the total volume of shares traded was 26 times the total number of shares outstanding for GME in 47 days.

for comparison apple was 0.2x , Tesla was 1.6x, Weed stocks & a certain Movie theater stock (generally some of the highest volume stocks on the NYSE) was 10x. GME was 26 fucking times. oh yes bold this bit.

But how is this possible with GME & the GSEs? Well it's not legitimate short selling because you need shares to sell and they're all tied up. But what if you just make up shares and sell them? "BuT tHaTs iLLeGal"

Well yes, and the SEC even like double banned naked short selling of the two GSEs

[++-](https://preview.redd.it/zp1zfokgjbs61.png?width=842&format=png&auto=webp&s=5867e593bb1931a72fad017766e73127465cb441)

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/gxcffojm6ds61.png?width=842&format=png&auto=webp&s=b02e8c9e53a421d6f7ca8c6db8fcb8d7c19aa91a)](https://preview.redd.it/gxcffojm6ds61.png?width=842&format=png&auto=webp&s=b02e8c9e53a421d6f7ca8c6db8fcb8d7c19aa91a)

SEC used regulate. It was not very effective.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/i41r5gvl6ds61.png?width=845&format=png&auto=webp&s=4cfe5ab48a0cdeb6e3c993d90bb7428a89ff37ab)](https://preview.redd.it/i41r5gvl6ds61.png?width=845&format=png&auto=webp&s=4cfe5ab48a0cdeb6e3c993d90bb7428a89ff37ab)

Ok but what's this got to do with s3? and GME

well ~~s3~~ iHorse claims they can measure these "synthetic longs" aka fake shares. Yet in 2008, they reported SI plummeted "90%" despite the above thermo-nuking of the stocks price going on. No prizes for guessing when else S3 have said SI plummetted recently...

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/z3y6iukn6ds61.png?width=1170&format=png&auto=webp&s=ef7d0cf665f9363698b8853d39cfba8ddac45c13)](https://preview.redd.it/z3y6iukn6ds61.png?width=1170&format=png&auto=webp&s=ef7d0cf665f9363698b8853d39cfba8ddac45c13)

seems like we got a lot of similarities to GME going on

So ok maybe legitmate short selling did decrease - maybe s3 aren't wrong on that. But naked shorting? oh baby it was, and still is, all the rage. And they can't measure that clearly.

And what would all those counterfeit shares created by naked shorts do to a shares price?

spoiler alert It kills a stocks price, because supply > demand.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/nqg9g9ho6ds61.png?width=976&format=png&auto=webp&s=39fb7190b9edab43855a711c2063b898eac1b8d1)](https://preview.redd.it/nqg9g9ho6ds61.png?width=976&format=png&auto=webp&s=39fb7190b9edab43855a711c2063b898eac1b8d1)

SMELLS AN AWFUL LOT LIKE GME IN HERE

I reccomend you read the entire PDF as it's almost identical to what is happening with GME, and yes CITADEL were of course also involved in all this don't worry. <https://www.sec.gov/comments/s7-08-09/s70809-407a.pdf>

I'll leave the PDF overview with this:

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/gu85h4tp6ds61.png?width=885&format=png&auto=webp&s=885fc1bcbc5974410274d027d266e6c2d1cc490d)](https://preview.redd.it/gu85h4tp6ds61.png?width=885&format=png&auto=webp&s=885fc1bcbc5974410274d027d266e6c2d1cc490d)

sounds like gme

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/v8gkehjq6ds61.png?width=917&format=png&auto=webp&s=8fedd4c109c8a94c45c7ec8bc55d961273c7822e)](https://preview.redd.it/v8gkehjq6ds61.png?width=917&format=png&auto=webp&s=8fedd4c109c8a94c45c7ec8bc55d961273c7822e)

walks like gme

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/a7scww7r6ds61.png?width=907&format=png&auto=webp&s=716b59251e598c7d0dc553f0e09ad91f11b5552c)](https://preview.redd.it/a7scww7r6ds61.png?width=907&format=png&auto=webp&s=716b59251e598c7d0dc553f0e09ad91f11b5552c)

must be gme.

again read the whole thing here - <https://www.sec.gov/comments/s7-08-09/s70809-407a.pdf>

anyway back to my fav man, the data goblin, the ihorse, iHor Dusaniwsky & S3.

>January 2021 - Back to the iHorse

So s3 partners account used to tweet GME SI%. Now they don't, only the iHor does.

The iHorse & S3 do not believe in the mantra we all learned at school of "show your workings."

Everything is their secret sauce and just trust us k. Yes they have said "heres the formula we use" but how they calculate the synthetic longs that go into the formula or anything else is their secret wall street voodoo.

I even dm'd iHor about this. He just told me stocks go up and down.

[He never told me what he thought caused the totally organic 10minute 350>170>260 swing in march.](https://preview.redd.it/s85fhkucebs61.png?width=573&format=png&auto=webp&s=9c0f3c06bc561d7a720f16cac586d9673c359d43)

Why did @ s3Partners stop tweeting? I dunno. But lets look at happened just before s3 account stopped tweeting. Bear in mind this all happened on *a sunday, Jan 31st 2021.*

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/ztdqs0hw6ds61.png?width=756&format=png&auto=webp&s=6f8f1f72a79565de07aa963df4e5a1c6fb6ff57f)](https://preview.redd.it/ztdqs0hw6ds61.png?width=756&format=png&auto=webp&s=6f8f1f72a79565de07aa963df4e5a1c6fb6ff57f)

Yes s3 changed their formula and said shorts decreased on a sunday. There must be some secret market open on sundays only they & short sellers know about. Maybe its called the "Secret Sunday Shorting" Market - or the S3 Market (to be clear this is joke don'st start posting DDs and tagging rensole about the fucking secret sunday shorting market).

The magic S3 SI% (that includes "synthetic longs" aka counterfeit shares) is essentially capped at roughly 60% - 60% is roughly what they report at 100% SI- and as SI moves higher the s3% moves much, much slower, past 60%.

[k](https://preview.redd.it/qd3rr6e5hbs61.png?width=612&format=png&auto=webp&s=da10c2aa92b580adc7b71cf7da41977464acbff6)

also here's two graphs iHorse tweeted about GME - weird how they're different despite covering 95% of the same time period & same data.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/20290nfv6ds61.png?width=1246&format=png&auto=webp&s=6f4db0e91d894d3d0f35d3be59bae41817217448)](https://preview.redd.it/20290nfv6ds61.png?width=1246&format=png&auto=webp&s=6f4db0e91d894d3d0f35d3be59bae41817217448)

We're gonna just ignore the fact they claim SI plummeted along with the price, cause that's been covered a billion times on a billion subreddits. We're gonna just sit and look at how historic market data just magically fucking changed.

I also asked him why GMEs fee is so low, yet it's constantly flagged as hard to borrow:

[he didn't reply to my numerous screen shots of it being flagged as hard to borrow](https://preview.redd.it/krvi0tc0gbs61.png?width=613&format=png&auto=webp&s=e156f2dc14694c071f141930986036f4ac07f816)

(I have to give ihor credit as he does interact with his fans, and does respond to DMs.)

s3 Partners fun family quiz night time:

Here's one of ihors favourite games. It's called spot the short interest difference. Remember *this company's entire business* is built around data.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/n1a1dpye4ds61.png?width=590&format=png&auto=webp&s=83459594a48f34945fb706755818c5add662ff99)](https://preview.redd.it/n1a1dpye4ds61.png?width=590&format=png&auto=webp&s=83459594a48f34945fb706755818c5add662ff99)

GME SI March 12

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/q7nos9ek4ds61.png?width=604&format=png&auto=webp&s=b7e505353518c96bd3f51b9bfff71ef4939313ad)](https://preview.redd.it/q7nos9ek4ds61.png?width=604&format=png&auto=webp&s=b7e505353518c96bd3f51b9bfff71ef4939313ad)

OTRK SI March 12th.

Yes corporate didn't realise they were the same picture. And even though it's likely just a mistake, the fact tweet is still there, not deleted or corrected, just sitting there live on twitter is an ode to their bullshit.

More Fun S3 facts: Here's what s3 say are the most shorted stocks on the market are right now - <https://www.shortsight.com/the-most-shorted-stocks/>

<https://preview.redd.it/db35vglckbs61.png?width=1227&format=png&auto=webp&s=4a0e344cac418cac8b6e1034b7d4942a97743860>

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/b043m9sx6ds61.png?width=1227&format=png&auto=webp&s=bba45b8614cea1b52781224b1cfd8fc450dbb535)](https://preview.redd.it/b043m9sx6ds61.png?width=1227&format=png&auto=webp&s=bba45b8614cea1b52781224b1cfd8fc450dbb535)

So ihor, you're saying that Apple, facebook, amazon, alphabet, netflix, snapchat, twitter, baidu, square, alibaba, nividia hold the highest Short Interest on the market?

You're telling me, *that Berkshire Hathaway* is one of the most shorted stocks on the market? BERKSHIRE FUCKING HATHAWAY. Who the fuck shorts fucking Berkshire. Well obviously no one really does as SI in Berkshire is 0.30%.

I'm gonna guess this is worked out by the market cap of the short interest, which is of course, a completely fucking retarded way of doing this.

Also Ihor gave gme a 10/10 on his new "squeeze score metric" (how its calculated is a secret) despite his SI reports constantly saying SI is decreasing for over a month. I mean... ok then.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/gij7lgvj3ds61.png?width=618&format=png&auto=webp&s=e9230540eed303b23af725328267aba435254020)](https://preview.redd.it/gij7lgvj3ds61.png?width=618&format=png&auto=webp&s=e9230540eed303b23af725328267aba435254020)

10/.10 as SI is constantly going down

He now has squeeze score at a 6/10 after he has reported SI has increased in GME in recent weeks. Ok.

In short (lol), S3 talk absolute nonsense, thrive on the lack of transparency around short positions, and seem to believe whatever data they get despite funds actively working to disguise their short position.

This is why S3, and Ihor, are a joke. Don't trust a fucking word they tweet, because I'm pretty sure they don't either.

[![r/GME - Let me tell you the tale of S3 Partners, a different big short in 2008 , GME SI reporting, & the iHor himself.](https://preview.redd.it/7f5ytwxb9ds61.png?width=128&format=png&auto=webp&s=66c39c8fdce3e1b4df2342febcf02d4c6cac7580)](https://preview.redd.it/7f5ytwxb9ds61.png?width=128&format=png&auto=webp&s=66c39c8fdce3e1b4df2342febcf02d4c6cac7580)

The iHorse in his true form
