71–80 of 190 posts
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> Leopold Aschenbrenner’s hedge-fund firm Situational Awareness is down around 67% so far in July after incurring heavy losses on AI stocks...
Literally the first line
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Why are you promoting content by Martin Shkreli? You know, the guy who committed securities fraud to rip off desperate patients?
Because hn is primarily about competence, knowledge and tech, which Martin has in spades. The arguments against him barely hold water in general anyway.
> Aschenbrenner party blamed short sellers who targeted the firm’s positions for exacerbating the fund’s losses, the letter said. The letter compared Situational’s experience to a bank run. 4 years ago, it was SBF blaming Changpeng Zhao for shorting FTT and triggering a run on FTX. Now another EA has followed the path of making a lot of money relatively quickly and losing it just as fast, using the exact same argumen…
>Now another EA has followed the path of making a lot of money relatively quickly and losing it just as fast let's be clear here - he didn't actually "lose" a ton of money. he was up 439% net in the first half of 2026. his issue was getting margin called due to being short on software (which went up) and long on AI infra (which went down) - getting margin called != losing money.
He's down 67% on the month. He most certainly lost alot of money.
He'll be fine and i think he'll be successful at raising more money, and he's still up on the year as far as I've been told by LP's, but he sure did lose alot of money this month.
Quite the funny headline. It initially made me think that someone had come up with some sort of quantitative measure of the situational awareness of traders, and was claiming that there was an increase in traders making dumb trades that misread the situation or something. Ironically, I would describe this selloff as an increase in situational awareness.
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Pardon for what? The crime of losing money?
Believe it or not, you are legally bound to act in the interests of shareholders. Though you cannot be pardoned from civil stuff, and the options to actually prosecute are pretty slim, so I doubt it. Though, even if this is just tongue-in-cheek, you can literally buy a pardon in America right now with just a little bit a money into the pockets of the Trump family, in case you didn't get the joke (that the US governme…
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Say more about how citadel made this happen with their trading?
Citadel spread the rumor that the Fed was going to hike rates this week. This led to Situational Awareness getting margin called on their longs.
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Why are you promoting content by Martin Shkreli? You know, the guy who committed securities fraud to rip off desperate patients?
Because hn is primarily about competence, knowledge and tech, which Martin has in spades. The arguments against him barely hold water in general anyway.
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That’s truly the playbook when you are on the other side of a levered firm though.
Yeah, probably. Its too bad.
Using leverage has risks that you're supposed to understand before you do it.
It's not a free lunch, unless you're putting the sharks' interest ahead of yours. Or clueless, which was the case here, as L.A. is not a trader and has no business running a fund.