Situational Awareness: AI Hedge Fund’s Near Miss May Embolden Risky Bets

A near miss can be more dangerous than a crash when it emboldens risk takers. Last week’s humbling of artificial intelligence-focused hedge fund Situational Awareness amid the selloff in US and South Korean stocks looks like such a moment. Investors still have a huge amount of borrowed money backing their bets on the technology boom, and many have spent recent days buying the dip. And, right now, Wall Street’s traditional yardstick for assessing how much leverage is behind stocks may be creating