> recent data implying immense trading losses even when times were good.
I was torn whether the collapse was due to intentional or negligent handling of moneys and this makes it clear that it was intentional AND he was pretty bad at trading. He got in to the whole space by arbitrage trading from an office down the street from my house. He enjoyed risk, had some good ideas, then got plain greedy. Combo greedy with bad trading and you get imminent collapse.
I was torn whether the collapse was due to intentional or negligent handling of moneys and this makes it clear that it was intentional AND he was pretty bad at trading. He got in to the whole space by arbitrage trading from an office down the street from my house. He enjoyed risk, had some good ideas, then got plain greedy. Combo greedy with bad trading and you get imminent collapse.
The live coverage (as of 30 Nov 2022 @ 5p Pacific) https://www.nytimes.com/live/2022/11/30/business/sam-bankman...