Gradually, in like never.
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🇨🇦Kudos to Jeff
Профиль Vivelybirds, politics, bugs Vancouver Island 🇨🇦 🤷♀️
youtu.be/Ac7G7xOG2Ag?...
4. Everyone (including me) underestimated the leverage being used. Because the assets on the 13-F were roughly in line with Form ADV assets + PnL, people assumed 1ish leverage (appropriate give the volatility!). Apparently the actual number was closer to 4, which is about Bill Hwang levels.