Carson Block is one of the market's most successful and high-profile fund managers. He is best known for documenting and alleging fraudulent accounting practices via Muddy Waters Research, the firm he founded and manages.
Q2 2021 hedge fund letters, conferences and more
Block started managing money for outside investors six years ago via Muddy Water Capital. During this time, unlike other fund managers, he has never written a letter to investors.
Instead, the short-seller has preferred to express his thoughts through media outlets such as CNBC and Twitter.
However, earlier this week, Block issued his first letter to investors after launching a new investment fund in February of this year.
Block's New Fund
According to a copy of the letter, which ValueWalk has reviewed, Block launched his new fund, Domino in the middle of February.
Initially, the fund was set to launch with $70 million of capital. Unfortunately, Block explains that the Reddit attack on Melvin Capital, which ultimately resulted in the hedge fund being bailed out by two of its largest backers, Steve Cohen's Point72 and Ken Griffin's Citadel, spooked investors.
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