Hedge Fund Hammered: Risky Mortgage Bet Backfires
Update: 2025-10-10
Description
Hedge fund heavyweight Andrew Berger is out at LMR Partners after a massive mortgage-backed securities bet backfired, wiping out the fund's 2024 gains and causing a rare loss in September. Find out how the star trader's high-leverage strategy went wrong amid shifting interest rates and what this cautionary tale means for risk management in the world of multistrategy funds.
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