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A star trader is out at $12.8 billion LMR Partners after a mortgage-backed securities trade backfires
businessinsider.com/hedge-fund-star-andrew-berger-leaves-lmr-mbs-trade-backfire-2025-10
Applications to refinance a mortgage rose 70% last week compared to the same week a year ago, according to MBA data
carlofranco/Getty Images
Andrew Berger exited LMR Partners after losses from a mortgage-backed securities bet.
The star portfolio manager's strategy involved highly levered…
This story appeared on businessinsider.com, 2025-10-10 14:17:59.