Ben Levine’s LMR Raises Capital After Hedge Fund Drops 12.5%(Bloomberg) LMR Partnersis raising capital after its main hedge fund suffered heavy losses amid the coronavirus-fueled implosion in global markets. The $4.6 billion LMR Fund slumped 12.5% in the two weeks through March 13, according to people with knowledge of the matter. The setback led LMR to reduce its bets and stop some traders from investing, a step hedge funds typically take as part of their risk-management response to stem losses, said the people, who asked not to be identified because the information is private.
And so another one. Got caught in the riptide. Somebody else did the scooping. Them boys are after each other. Not us. They care less about us. We mean zip..nada..zero to them boys. They after each others dinero. The big bucks.
I mean, that actually doesn't seem like a devastating loss given the conditions, potential leverage etc. We'll be hearing about a lot more impressive drawdowns and outright blowups soon!