I don't see how this is a response to my riposte. Of course he's going to try to reassure his investors so they don't take back what's left of their money. It's skillfully written to reassure people who were foolish enough to trust someone with zero investing experience, I guess. It is really a lot of words to describe getting margin called.

> honest about the numbers

His books are not public but I would bet my house that the numbers in the letter are carefully chosen to deceive. He reportedly started with 225M and gained 1500% or thereabouts, I.e. 16x. That gets you to 3.6B. But the assets were 45B at their peak. So then we have something like 40B other investment dollars coming in after he got famous. Two thirds of that he proceeded to set on fire. I don't know who would believe he's somehow still "up" YTD and worth leaving their money with. If anything this whole ordeal is an amazing advertisement for Ken Griffin.