>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.

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.

	▲	windexh8er 4 hours ago \| parent [-]
		But that's not what they want to see. They want to see that AI is a savior for all. The psychosis of what AI is, especially in these comment walls, is unfortunately and spectacularly real. Anyone who's done any amount of investment can see this through the lens of history and I'm right there with you. This is the Lehman Brothers stage of the game and SA could be that "one". But Bro, we're still up 80%! - even WSB isn't filled with this level of ignorance.

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bagacrap an hour ago | parent | prev | next [-]

Well micron is up 165% on the year so he could have just bought a single stock and done a lot better. The point being that you wouldn't consider someone a genius if they did that, just lucky.

Not sure why anyone thought he was a brilliant investor to begin, as there's always going to be at least one investor of all the millions out there who makes a radical bet and is up 1000%, just like powerball has winners.

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bpodgursky 6 hours ago | parent | prev [-]

It's hopeless, people see what they want to see.