Another SBF? The once highly-praised Leopold Fund is now exposed for massive losses and is reportedly seeking new financing. The fund's long positions were in stocks, and its hedging strategy involved put options. Back then, many people thought its allocation was super solid. But now it seems like they might have closed their short positions during the epic Q2 short squeeze, only to take a full hit during July's downturn Asked some expert friends, and they said with this kind of track record, raising funds won't be easy. If this wave really takes them down for good, it’s honestly kind of hilarious. From the heavens to rock bottom in just a few months—failed attempt at creating a legend?