Bilbo – INFC E Paper

Mr Aschenbrenner is in his mid-20s and runs Situational Awareness, a hedge fund—named without irony—which posted a loss of 67% in July.

Investors in Situational Awareness deserved to lose their shirts

Readers of J.R.R. Tolkien’s “The Lord of the Rings” trilogy meet Frodo Baggins, its hero, when he is still in his tweens. This, Tolkien explains,…

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