Wrong. Check your info. Cramer never blew up with his fund. He had a steep drawdown of something like 35% and redemptions coming in left and right in Sept/Oct 1998. Allegedly, his fund recovered by early 1999.Quote from crgarcia:
Jim Cramer had one.
And he -like most daytraders- ended up blowing up accounts.
Unfortunately, but not surprisingly, any fund that takes a hit like that also takes a huge hit in their assets under management figure when people run for the hills. So sure, the "fund" may have started to make positive gains, but that doesn't mean the size ever recovered. And for a 2/20 structure that can hurt.Quote from makloda:
Wrong. Check your info. Cramer never blew up with his fund. He had a steep drawdown of something like 35% and redemptions coming in left and right in Sept/Oct 1998. Allegedly, his fund recovered by early 1999.