alt Hacker News>Even including July's losses, the fund remains up about 80% on the year
Spectacular blowup and a lesson on leverage, but let's not miss this line.
Replies
bpodgursky • today at 2:20 PM
It's hopeless, people see what they want to see.
>Even including July's losses, the fund remains up about 80% on the year
Spectacular blowup and a lesson on leverage, but let's not miss this line.
It's hopeless, people see what they want to see.
You’re missing the core story which is that they don’t have a returns crisis they have a liquidity crisis. Finds don’t blow up because they have bad returns. Funds implode because they have no cash to cover their calls and other needs for cash.