There Is Always a Second Time

This post brought in this feedback:

Michael – spoke with guy who runs Morgan Stanley’s prime brokerage couple years ago on few things, and asked him one thing I was always curious about: of the people who run funds that blow up: what percentage blow up again? His answer was confident and quick. Said they had done that analysis and the result was 100% – talk about trends! Recall hunter effectively blew up at UBS a few yrs prior to this, though he again blamed an unprecedented turn in the energy markets at year-end. Especially interesting that the last line of the Bloomberg article…had some guy saying that Hunter would be back – no doubt, and we should track, as he will blow up again.