The Eifuku 'Eternal Luck' Fund blew up in early 2003 and it lost 98% of the investor's money in 7 trading days in normal market conditions.
There are several articles on the net regarding this rude-sounding name, however the best article is still the "Dear John" letter by the fund manager John Koonmen. I managed to find a link to a copy of the PDF file, here: http://www.nuclearphynance.com/User%20Files/389/invlett.pdf
Charlie Munger once said that while it's good to learn from our mistakes, it is probably better to learn from other people's mistake, so, what can we learn from this blow up ?
(who hasn't posted for ages) [more]