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

marketsurfer · Jan 22, 2015

Clubber Lang said:
Sadly you're probably right. Meanwhile a guy who mauled the market for 15-20 years with low risk can't raise a dollar.

Well said. Risk is rewarded, grinding is not. Win or lose-- generally speaking.

southall · Jan 22, 2015

Anyone can take reckless risks with OPM.

The Article didnt say how much skin he had in the game.

If the majority of his networth (>50%) was in the fund then maybe he might of learnt a lesson.

Otherwise he probably hasnt learnt anything.

marketsurfer · Jan 22, 2015

Had he been succesful, he would be your hero. Risk goes both ways.

Butterfly · Jan 22, 2015

"Owen Li, the founder of Canarsie Capital in New York"

hum, I see a pattern here

southall · Jan 22, 2015

marketsurfer said:
Had he been succesful, he would be your hero. Risk goes both ways.

10 year track record of trading through wild bull and bear markets and coming out on top, then yeah total Hero.
But he seems to have traded like a newb, like some guy who opens a $10K account with a bucket FX shop and blows it all up within a few months. What wild black swan event took him out?? At least nick leeson could blame the Kobe earthquake..

RobertG · Jan 22, 2015

marketsurfer said:
Had he been succesful, he would be your hero. Risk goes both ways.

No my hero. Someone who doubled or tripled my money over one day or one month, or for that matter would achieve an unreasonable returns in a short period of time would have got a double take from me, and following that a request to close the account.

Butterfly · Jan 22, 2015

it's quite amazing that this guy could find 100m Worth of investors foolish enough to give him that much money to gamble as if he was in a Macau Casino

this industry is full of poseurs and scam artists,

I bet his PPT presentation to get that much funding was very impressive

prc117f · Jan 22, 2015

I suspect the people handed him money because they thought he was going to do some insider trading for the investors since he came from galleon fund.

Otherwise I doubt he would have been able to get funded.

Butterfly · Jan 22, 2015

he is going to get sued, above all if the last trades he did proved to be completely senseless and amateurish

lemarche · Jan 23, 2015

He got the funding cos he got the CV and the connections... that s all.

Yeah big deal, if he s sued am sure he has 100mil spare saved somewhere, just in case he needed one day to repay investors... LOL...

No picture of this looser on Internet.

Good point Southhall, he has probably not learnt the lesson, being OPM and all...