Just to add some color, I used to work for a FOF that visited there about a year ago, and I recall that they had one fund (they manage maybe 5) that had to be liquidated if it fell more than 10% below the yearly high water mark. I remember thinking that was an odd setup as it would be hard to expect much upside if you had to liquidate after a 10% drawdown. I wonder if that is the fund people are talking about, as the size of position people are talking about here should have not shut him down.
He was a nice guy, quite odd though. He seemed to have a good sense of humor.
Has he retired? I remember he was ill at the time we visited, and about 65 yrs old. An earlier post said his #2 guy had taken over. I met him also, and he seemed quite arrogant, one of those guys that tells you every 15 minutes about his Harvard undergrad. I think he had been there quite a long time though, so was probably quite good at his job.
Vic seemed to be quite a careful guy to tell you the truth, as every 15 mins he mentioned his losses in 97, and I got the impression the main purpose of the fund was to earn back his good name. To tell you the truth the returns he churned out in the last 8 years or so have been phenominal. I am no longer at the same firm, so don't have any records, but I remember being quite impressed.