Hedge Fund Manager Owen Li Sends Investors Sorry for Losing All The Funds Money Except $200K Letter.
Owen Li, who previously worked at convicted hedge funder insider trader Raj Rajaratnam’s now-closed Galleon Group, is the founder of New York-based Canarsie Capital. According to CNBC, Canarsie once managed around $100 million in assets.
In the letter, Li told investors that he was “truly sorry.”
“My only hope is that you understand that I acted in an attempt — however misguided — to generate higher returns for the fund and its investors,” Li wrote in the letter. “But even so, I acted overzealously, causing you devastating losses for which there is no excuse.”