Hedge Fund Hammered: Risky Mortgage Bet Backfires

Hedge fund heavyweight Andrew Berger is out at LMR Partners after a massive mortgage-backed securities bet backfired, wiping out the fund's 2024 gains and causing a rare loss in September. Find out how the star trader's high-leverage strategy went wrong amid shifting interest rates and what this cautionary tale means for risk management in the world of multistrategy funds. Hosted on Acast. See acast.com/privacy for more information.