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What caused this hedge fund to crash 84% in six months?


All over the world, stock-picking hedge funds are suffering from the market rout.

And then there is Marcho Partners a technology-focused fund, founded by a former deputy of a technology investor Chamath Palihapitiya. The London-based fund, which had more than $1 billion in assets under management at its peak, was down nearly 84% through June 30, according to a summary Marcho sent to its investors, marking one of the worst performances known for a hedge fund. so far in 2022.

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