You know -- the two former Goldman traders who made a wrong bet on volatility a year ago that blew up their fund?
What happens to guys like that? Clearly, two smart, pedigreed guys who had good track record until they didn't... do guys like that end up on their feet? Go back to Goldman? You think they can ever start another fund again?
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Heck, I wouldn't be surprised if they're still trading variance swaps. You see these sorts of HFs crop up every now and then. Selling a high Sharpe strategy that is seemingly completely uncorrelated, until being short vol blows up in your face again. Rinse and repeat.
But unless it's their own money, I can't imagine how they would have raised funds in the last year after they were the most high-profile fund to blow up due to the Covid volatility.
Purely anecdotal but there's so much money these days it seems like even people with losing track records are getting funded on the promise of "I will get it right this time"
Wow... kind of makes me wanna go the HF route instead of PE.
Don't put too much weight in this - like I said, this is anecdotal and meant to be an observation across asset classes based on observations of mostly public information.
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