Leopold Aschenbrenner has told investors that his AI-focused hedge fund, Situational Awareness, will no longer use bank borrowing to finance its investment positions following the fund’s sharp July drawdown, according to a report by the FT.
In a letter sent to investors, Aschenbrenner accepted full responsibility for the losses and said the experience would prompt significant changes to the firm’s approach to portfolio construction and risk management.
Despite the setback, he confirmed that Situ...
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