6 points | by sbulaev 10 hours ago ago
3 comments
Didn't actually melt down though, in his recent letter he states that his fund is still 80% profitable YTD. Here's the letter: https://x.com/tbpn/status/2083226453509030285?s=20
Can be true at the same time when dealing with high leverage and a growing fund. The YTD doesn’t make you more liquid or secure.
If so why the fire sale to Citadel?
Didn't actually melt down though, in his recent letter he states that his fund is still 80% profitable YTD. Here's the letter: https://x.com/tbpn/status/2083226453509030285?s=20
Can be true at the same time when dealing with high leverage and a growing fund. The YTD doesn’t make you more liquid or secure.
If so why the fire sale to Citadel?