Posted on 01/21/2015 12:56:06 PM PST by Kartographer
A hedge fund manager told clients he is "truly sorry" for losing virtually all their money.
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.
(Excerpt) Read more at cnbc.com ...
” he had lost all but $200,000 of the firm’s capital—down from the roughly $100 million it ran as of late March.”
The latest example of the old proverb or saw: Don’t put all your eggs in the same basket. Oops!!
So, did Li bet the investor farm on shorting currencies? Bet he never heard of option straddles or strangles. I hope his clients learned a lesson. If they tar and feather Li, it’s understandable.
Love that scene.
The actual statement probably went something like “Oops, sorry. My Bad.”
Well that makes it all ok then. He’s sorry. Move on.
Worse things have happened.
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