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Reminds me of LTCM fund story (very smart people X highly leveraged portfolio = a perfect recipe for massive losses on black swan day)
by d_silin 2mo ago
Reminds me of LTCM fund story (very smart people X highly leveraged portfolio = a perfect recipe for massive losses on black swan day)
- vzcx 2mo agoLTCM was actually a lot more sophisticated, this fund's thesis was basically "number go up." Count the OOMs!