He is playing with other peoples money so he could care less. It was a big casino bet, he went all in and unfortunately for him the market is staying irrational longer than he can stay solvent.
Doesn't anybody remember that Ackerman blew up his first hedge fund? This guy takes big positions until eventually he blows up. He's the Mike Matusow of investing.
why do icahn or akerman waste their capital in collecting paper ? of loser companies bullsheet companies like herbalife..it's like amway. a joke company.
That's how the "real" money in trading is made, not scalping for pennies with your 3x R:R or whatever have you. When you make money, take your 2/20 cut. When you lose other people's money, well, that's just too bad....for you. Hasn't John Paulson now lost more money than he ever made on subprime?