Apr 22 2021, 2:45 AM
April 21 2021, 7:32 PM
April 22 2021, 2:45 AM
(Bloomberg) It was the kind of moment that would normally sink a hedge fund: Dan Sundheim was on Zoom, apologizing to clients for losing $4 billion in a single month. He ticked off strategy changes, noted he wasnât going to dock his teamâs pay and then headed back to work.
(Bloomberg) It was the kind of moment that would normally sink a hedge fund: Dan Sundheim was on Zoom, apologizing to clients for losing $4 billion in a single month. He ticked off strategy changes, noted he wasnât going to dock his teamâs pay and then headed back to work.
Sundheim’s D1 Shakes Off Its $4 Billion Reddit-Fueled Fiasco
Bloomberg 1 hr ago Hema Parmar and Katherine Burton
(Bloomberg) It was the kind of moment that would normally sink a hedge fund: Dan Sundheim was on Zoom, apologizing to clients for losing $4 billion in a single month. He ticked off strategy changes, noted he wasn’t going to dock his team’s pay and then headed back to work.
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Now, mere weeks later, the episode is behind him.
Sundheim has recouped about 90% of what he lost in January when retail investors attacked his short bets on the likes of GameStop Corp. That recovery has put his D1 Capital Partners back into one of the most rapid ascents ever seen in money management. His presentation that February day fit what investors have come to expect from the 44-year-old billionaire unemotional yet sincere, supportive of his 51-member team, and unfazed by risk attributes they say helped him amass $20 billion in less than three
Hedge Funds Nailed Treasuries Rout With $100 Billion in Sales
Bloomberg 1 hr ago Stephen Spratt and John Ainger
(Bloomberg) Hedge funds have been a major player in this year’s Treasury selloff, offloading more than $100 billion of the securities since the start of January, according to holdings data.
The world’s biggest net sales of U.S. government debt so far in 2021 has been in the financial center of the Cayman Islands, well known as a domicile for leveraged accounts. Investors there dumped $62 billion of US. sovereign bonds in February, after selling $49 billion the previous month, Treasury Department data show.
For Madoff Victims, âTragedy Goes Onâ After Scammerâs Death
Apr 15 2021, 1:47 PM
April 15 2021, 2:13 AM
April 15 2021, 1:47 PM
(Bloomberg) Bernard Madoffâs death in prison Wednesday doesnât change much for his victims, many of whom are still waiting to be made whole on their share of $20 billion that vanished with the con manâs 2008 arrest.
(Bloomberg) Bernard Madoffâs death in prison Wednesday doesnât change much for his victims, many of whom are still waiting to be made whole on their share of $20 billion that vanished with the con manâs 2008 arrest.
The recovery effort, still underway in court more than a decade later, has been remarkably successful at recouping the lost principal, under the circumstances. But thatâs little comfort to investors who lost their life savings or otherwise had their lives turned upside down. And none of them will ever see a cent of the $45 billion in fake trading profits Madoff assured them wa
Apr 15, 2021
Bernie Madoff’s death in prison Wednesday doesn’t change much for his victims, many of whom are still waiting to be made whole on their share of $20 billion that vanished with the con man’s 2008 arrest.
The recovery effort, still under way in court more than a decade later, has been remarkably successful at recouping the lost principal, under the circumstances. But that’s little comfort to investors who lost their life savings or otherwise had their lives turned upside down. And none of them will ever see a cent of the $45 billion in fake trading profits Madoff assured them was safely tucked away in their accounts for retirement.