The Turbulent Saga of a Hedge Fund's Downfall
Two Sigma, one of the world's largest hedge funds with $60 billion in assets, has been facing internal troubles that have raised concerns among investors and regulators. The relationship between the billionaire co-founders and owners, David M. Siegel and John A. Overdeck, has turned toxic, affecting the firm's future. Additionally, an employee altered trading models without the firm's knowledge, leading to regulatory scrutiny. Furthermore, Overdeck's personal life has been dragged into the open due to his impending divorce, with allegations of moving joint assets into trusts to shield them from his wife and the IRS. These issues have raised questions about internal controls at Two Sigma and could impact its ability to retain clients and talent.