Leopold Aschenbrenner: His AI hedge fund rode a 439% gain — then collapsed 67% in a single month. For Aschenbrenner, the music stopped with a screech. When the lights flickered on, there wasn't a pretty face in sight. Leverage giveth, leverage taketh away. Now he's pivoting to private markets. The narrative? Still intact. The portfolio? A cautionary tale.. We have observed a notable improvement across financials, home builders, real estate developers, utilities, and REITs, sectors that had been materially discounting a more punitive rate trajectory.
Download the full report to see where we are in the cycle and how to position your portfolio for the volatility ahead.
