marketscrash

$Put together a few things worth noting about what the market went through this week after Trump’s election defeat.

• Several hedge funds reportedly took heavy losses, saw investors pull money, or shut down this week.

• Rumors are flying that Walleye Capital, a $20B hedge fund, “blew up” during the tech sell-off.

• Bloomberg says fears over AI spending hit October returns:
— Tiger Global: −8.5%, roughly flat for the year.
— Whale Rock: around −8%, still up 34% for the year.
— VARA, which went all-in on AI: −33%, still up 13% for the year.

• Samlyn Capital sold almost all its stocks outside the financial sector and is laying off senior analysts, according to Bloomberg.

• Five credit portfolio managers left Brevan Howard, reportedly after their teams were shut down.

☝️At this point, it’s clear: the Democrats’ win was the trigger that started deflating the tech and AI bubble.

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