Swank settings, glittering names, trillions of wealth… the Global Family Office Summits were a con man’s works of art. How ‘Sir’ Ritossa has bilked the aspiring famous for years.
“Ritossa puts on fake family office events where a lot of people turn up who don’t have capital to invest — but very much want people to think they do — while genuine entrepreneurs and fund managers are being hustled into giving Ritossa and his company fees.”
Voyager Digital, the crypto execution broker, has just filed for bankruptcy.
Add this failure to the list of cascading failures in the digital space.
Unfortunately, with no regulation and capital buffers, more dominoes will fall, and with little recourse for the other players.
A systemic effect is currently unfolding in the digital space. Stable coins have been hit, then coins, then lenders, then hedge funds and now crypto exchanges. Unfortunately, the lack of regulation, of regulator, of risk constraint, or even capital buffer will make the fall even more painful.
Should data science be a area of mathematics or a science by itself? Raphael Douady, a prized financial market academic, contends that it is a science in itself, and that French and Russian mathematicians ranks among the best.
$11 Trillions worth of hedge funds, half the industry, is barely disclosing any information to the general public. The SEC, which already has valuable information on this well-performing universe, is requesting more disclosure in their Forms PF.
You always see the glitz around hedge fund portfolio managers – the parties, the mansions, the cars and the boats.
It’s not always like that. This WSJ article reveals quite a story of rags-to-riches.
We are currently in the unusual market situation called “market up, vol up”, where volatilities go up while the market rallies. It is driven by retail purchases into the tiny calls, notably for the small caps and the meme stocks.
There have been some sudden movements in the global rates recently – rate rises, curves flattening, inflation threats.
The big and famous in the hedge fund world are raking significant losses.
You remember our cryptocrook? Quant WizKid, market-neutral hedge fund, Cryptocurrency arbitrage great returns, $90m AUM… Except that it was a Ponzi.
His sentence just came out: 7½ years of jail. Here are the explanation & the context.
Investors are not happy with Infinity-Q, the derivatives hedge fund that had a slight ‘mismarking’ and is now in a wind-down. We’ve learnt a few more things since the announcement.
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