FINANCIAL TIMES: LEOPOLD ASCHENBRENNER'S SITUATIONAL AWARENESS SEEKS TO RAISE NEW CAPITAL
Leopold in his letter to investors on July 24th:“PS. At times we call out opportunities that seem like a particularly good time to add funds, if you have been waiting for one."- Leopold has approached investors and lenders for fresh capital after suffering sharp losses during the AI stock sell-off.- The fund reportedly used leverage to amplify its concentrated AI bets, boosting gains during the rally but worsening losses as technology stocks reversed.- Despite the recent damage, Situational Awareness was still up 439% net through the end of June following extraordinary first-half returns. So, it looks like his fund is not blowing up but it obviously is experiencing pain. If Leopold is telling his investors that this is now a good time to put more money in as the opportunity is the best since early 2025, then the question simply becomes if he is right or not.If he is, this might be similar to March of this year. If not, fresh money buying at these levels might only continue to experience the pain of the market going against the AI trade.Source: amit
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