> No matter how you slice it the whole sequence of events last week was an unmitigated disaster.

It actually wasn't an unmitigated disaster. He was overleveraged and apparently had the dumbest hedges (he was long AI and short software and when AI was down software was up so his hedges didn't hedge).

Citadel swooped in and bought the public equity portfolio. That's the definition of mitigated. There was no propagation of the fund's losses to other financial institutions. This made for great headlines but it was a nothingburger as far as markets are concerned.

> He’ll likely never manage other people’s money ever again.

He didn't close the fund so he's still managing other people's money. And while nothing about his profile would ever persuade me to be his LP, you're underestimating the fact that a pristine track record isn't required to raise money. Given this kid's profile and the fact that he made an obvious mistake (even if it was big), there are probably people out there who still have an appetite for parking money with him.