Praetorian founder Harris Kupperman called the tech crash, but his oil predictions did not pan out.
A wrong bet on Russia cost hedge fund Praetorian Capital last year, but the fund, run by Harris Kupperman, still managed to gain 11.94 percent in 2022.
Praetorian’s “Russian Adventure,” as Kupperman calls it, “has been a disaster,” he said, in a recent letter to investors. When Russia invaded Ukraine, Russian assets were were in free fall, but still trading in the West. To Kupperman, it looked like a smart distressed play to scoop them up…