大鱼吃小鱼

[crane]

吃完就反弹了

https://www.wsj.com/finance/citadel-buy ... i-5117159b

Citadel Buys Situational Awareness’s Stock Portfolio After Big Losses in AI

The highflying hedge fund run by Leopold Aschenbrenner is in crisis mode after AI-related bets sank

Updated July 30, 2026 1:30 pm ET

Situational Awareness, the once-highflying AI-focused hedge fund, sold the bulk of its stock portfolio to Ken Griffin’s investment firm Citadel after suffering deep losses, according to people familiar with the matter.

It marks a sudden downfall for Situational, led by former OpenAI employee Leopold Aschenbrenner. It had amassed well over $20 billion in assets under management since its founding just around two years ago, making it one of the fastest-growing firms in years. Aschenbrenner, who is in his mid-20s, was seen by some as an AI oracle, with other investors closely tracking his firm’s movements as it placed big, leveraged bets.

[crane]

Link: https://x.com/Sam_Badawi/status/2082863311176233133

[crane]

Link: https://x.com/TaoRay/status/2082878836853850480

[shepherd17]

我认识一家长，他家二丫头前年从宾州一个文理学院毕业后去了Citadel，刚入职的新人第一年收入就超过30万。

https://www.quantblueprint.com/salaries ... securities

[crane]

May 1, 2024
Podcast: In Good Company
Citadel Founder and CEO: Investing, Innovation, Culture, and Politics

Since founding Citadel in 1990, Ken Griffin has become one of the most successful investors of all time. In this episode, Ken shares his journey from starting Citadel after university, to leading the world's most successful hedge fund. He also shares valuable advice on politics and maintaining resilience in a volatile economic landscape.

The podcast In Good Company is part of Norges Bank Investment Management, a podcast about our investments. We are transparent about how the fund is invested. In this podcast, you to get a deeper insight into the companies the fund is invested in.

Our CEO, Nicolai Tangen, has in-depth interviews with the leaders of some of the largest companies in the world. You will get insight into their leadership principles, the company’s strategy and how they are dealing with a large investor like us. You will also learn more about our role as an owner of the companies.

"it's experience. it's the price paid in losses and pain that converts into wisdom. my leadership team, we've been through a lot of very difficult moments of the markets together. we've learned some very bitter lessons. but it makes us much more effective as investors in periods of turmoil and crisis."

[crane]

Leopold Aschenbrenner 的婚礼照常举行

Leopold Aschenbrenner is getting married this weekend in Carmel, Calif., to Avital Balwit, chief of staff to Anthropic CEO Dario Amodei. Fortune first reported their engagement in October. It is, the Wall Street Journal reports, a lavish affair fit for the AI power couple: beginning, naturally, with a colloquium of panels and breakouts, followed by a ceremony at a Tuscan-style villa and a send-off to their honeymoon at a forest spa retreat.

有人翻译了他给投资人的信

Leopold今天在婚礼场地发给股东的内部信全文

各位合伙人： 我们在这个月让你们失望了。

我们离永久性资本受损的距离，比我们所能接受的程度更近。尽管我们最终找到了一个保护基金和你们这些投资人的解决方案，但我们管理这只基金的初衷，是永远不让自己陷入这样的境地。

波动性是长期投资回报的代价。在过去两年中，尽管偶尔会出现剧烈回调，我们还是取得了杰出的业绩。但我们的基金必须始终保持这样的结构：即我们能够承受损失，并且能够改日再战。

我将确保我们从这次经历中吸取必要的教训作为我的使命。目前的情况如下：

整个7月期间，投资组合经历了显著的回撤，过去一周核心持仓的极端走势加剧了这一情况。

许多人工智能（AI）相关股票腰斩或跌幅更多，而我们的多空（L/S）正向价差发生了剧烈的逆转。尽管我们可以对这个月是如何的不寻常长篇大论，但无论市场环境如何，我们都以更高的标准要求自己。

随着这些行情的演变，我们开始看到与我们公开相关的股票出现了日益不利的交易状况。这些动态本质上类似于银行挤兑：脆弱性引发更多的脆弱性。

我们努力将投资组合维持在风险参数之内，但随着头寸迅速对我们不利且市场流动性枯竭，这变得越来越困难。 * 在周三晚间至周四早间，我们采取了果断行动来保护LP的资本。

我们通过大宗交易（block transaction）出售了一部分公开市场的投资组合，以消除基金的所有杠杆并防止进一步损失。所有空头头寸均已平仓，对投资组合融资的依赖已被消除。我们目前管理的是一个全额实缴的公开股票账本（做多股票以及全额实缴的做多期权，没有保证金/强平风险）。这恢复了稳定性，并使我们能够保护我们的私募股权持仓。

我对这些事件负全部责任。

需要明确的是，就我们基金的业绩而言，这本该是一个极其痛苦的月度：当人工智能股票大幅回调，而人工智能的技术/商业基本面正在改善时，你们应该预料到我们的基金会大幅下跌。

我们拥抱波动性。

但这绝不应该危及基金。

该基金没有被关闭、清算或转型为纯私募股权基金。 我们和以前一样，继续作为公开与私募混合型基金运营。然而，在吸取这些发展的教训的同时，我们将以全额实缴（fully-paid-for）的基础来管理我们的公开账本。

最重要的是：我们采取了必要措施以求改日再战。

[shepherd17]

这个 Leopold Aschenbrenner 一看就是那种眼高手低、自以为是的货色。

[crane]

这个 Leopold Aschenbrenner 一看就是那种眼高手低、自以为是的货色。

年轻啊，早早栽个大跟头，不是坏事。

[门前镜湖水]

记得上次贴的那个法国人的访谈里，他说过这些数学模型不能真正对付政治等黑天鹅事件，只是对短期，高频交易最有效。
我觉得这小伙栽在同样的原因。
数学不懂心理学，数学不知善恶，所以，不要以为数学是万能的。

[shepherd17]

Leopold Aschenbrenner 祸祸的反正是别人的钱，即使亏了也不心疼；别人哪怕因此破产了也拿他没办法。

这种毕业于名校、一脸聪明相，做起事来眼高手低的年轻人我见多了。