You’re missing the core story which is that they don’t have a returns crisis they have a liquidity crisis. Finds don’t blow up because they have bad returns. Funds implode because they have no cash to cover their calls and other needs for cash.
Anyone who's done any amount of investment can see this through the lens of history and I'm right there with you. This is the Lehman Brothers stage of the game and SA could be that "one". But Bro, we're still up 80%! - even WSB isn't filled with this level of ignorance.
A fund went up 400% by making a few highly leveraged, concentrated bets. The market moved against its leveraged positions and it was forced to quickly sell to a rival fund, at only an 80% profit.
Nothing about that is meaningfully the same as Lehman Brothers other than the most superficial aspect of "A financial thing went down fast"
I find the emotional charge in your message quite strange, and the "psychosis" might be you projecting something.
Regardless, it's a scam fund built on sand. Sure, I am following this as everyone else is and my comment is rooted in the ignorance surrounding all of the cyclical financial engineering in broad daylight. This truly stems from the AI psychosis I reference and many industry stalwarts are pointing the finger in this direction as well.
But I truly love your jab at the end, very classy. Yes, I am the psychotic one for thinking that all of the companies targeted in this fund are built on AI revenues that include a huge percentage of funds that they themselves have propped up via investments is rather telling. But hey, this is the world we live in: it's easier to lie and stand with the masses.