It looks like the hedge-fund equivalent of a hostage video.
James Cordier, in a dark suit, cuff links and expensive-looking watch, sits in a brown leather chair and stares into a camera, his hands folded in front of him.
Then he delivers the bad news.
His voice near-breaking at times, the hedge fund manager employs nautical terms to tell his clients in a roundabout way that he’s lost all of their money — in the neighborhood of $150 million, according to one estimate.
More here – Bloomberg
PS: Time to be an after the fact clever dick. Firstly, if your sole trading trading strategy is the writing of options then it is inevitable that you are going to blow up. To use an oft quoted expression writing options is like picking up nickles in front of a steam roller. If you have nothing else in your arsenal then your time is limited. Secondly, if you are writing naked calls on natural gas as the northern hemisphere winter approaches then you really dont have any business being in the business of managing other peoples money. A simple look at the charts would give you an idea of the seasonal volatility that natural gas experiences. Its not hard the charts are free. Finally, if you let it get to the point of not taking any corrective action at all when things started to go wrong then you clearly dont know what you are doing.
