Hema Parmar
speaker
60 appearances
3 recordings
1 series
first heard May 2026
last heard 31 Jul
Hema Parmar’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jul 2026 with 2.
Appearances
So, what we were seeing is really incredibly dramatic unfolding of events over the past 24 hours.
And what we reported last night was the news that while situational awareness was in conversations with Citadel, Millennium, Jane Street to offload their public book, they were also having conversations to potentially offload their private portfolio.
This is a sizable portfolio that includes a $5 billion.
Dollar position in Anthropic.
And the fact that they were in talks with Sequoia and Green Oaks to potentially offload those stakes really shows how dramatic the situation was.
Ultimately they did not go ahead with that because they got the Citadel deal.
But it is not a great sign when a fund is looking at trying to sell their public and their private book to meet margin calls.
Yes, he sent a letter to investors uh apologizing for the dramatic unfolding of events, saying that he is responsible, um saying that the fund still has its uh year to date um or since inception performance of up 80%.
But keep in mind the monthly performance down nearly 70%.
Also really important is thinking about when investors got in.
The LPs that got in early in the fund's existence, they're probably doing okay.
But if you're an investor and you got in the past few months, uh the pain is pretty bad.
Yes, a really interesting stance from Viking Global.
This is a hedge fund that manages $56 billion.
And they're taking a divergent view from what we're seeing from many of their peers that are really jumping on this AI beta market.
And meanwhile, COTU really a lot more cautious, not partaking in a lot of these stocks.
And we're seeing this in their performance with their hedge fund up about 7.5 in the second.
Quarter, but uh still only up 2.6 for the full year so far, and that's a a f a great degree less than many of their competitors.
So they're very concerned about the risk that they see in the market.
So they're concerned that we could see potentially a correction, some sort of sudden shock that curbs buying of these stocks that are highly popular.
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