Ex. Galleon guy blows 100 million dollar hedge fund in 4 weeks.

The language was "Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March."

So in reality he's probably been running this into the ground for months.
 
I am surprised that his lieutenant "at Canarsie is Ken deRegt, who joined in 2013 after having retiring as the global head of fixed income sales and trading at Morgan Stanley" with so much experience allowed him to take on so much risk unless they were not trading but actually spending the $100 million...
 
Anyone has a picture of the guy? I d love to see what a winner like this looks like...
He manages to raise 100mil, most certainly on the back of it "spotlessly clean" resume (guy had never failed before in any of its endeavours you see), and blows it up in less than 9months... Astounding...
 
lemarche said:
Anyone has a picture of the guy? I d love to see what a winner like this looks like...
He manages to raise 100mil, most certainly on the back of it "spotlessly clean" resume (guy had never failed before in any of its endeavours you see), and blows it up in less than 9months... Astounding...
More...

Google his name and you will see pictures.
 
i960 said:
The language was "Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March."

So in reality he's probably been running this into the ground for months.
More...

I read he was just having a crappy December and wanted to "make the clients good" ;)
 
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