1-month drawdown of 67%, AI stock-picking guru's fund suffers paper losses exceeding $5 billion

Odaily News On-chain analyst Ai Yi posted on platform X, stating that "those who drown are often skilled swimmers." She noted that Leopold Aschenbrenner expanded his fund 73-fold in 2 years and was hailed as a "genius stock picker"; however, within 1 month, the Bag saw a drawdown of 67%, with paper losses surpassing $5 billion, forcing him to sell a large portion of his holdings to repay loans. She also mentioned that just 1 day after cutting losses, the market rebounded, and the fund's heavily weighted stocks showed significant gains.