The perils of forcing a sale of illiquid assets
A lawsuit against Saba Capital's Boaz Weinstein shows how a liquidity panic can possibly lead to a financial crisis
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New York
BOAZ Weinstein, the hedge fund manager famous for betting against the JPMorgan Chase trader known as the "London Whale", is being accused of his own accounting chicanery.
In a case that could have chilling lessons for investors in certain kinds of illiquid assets, Mr Weinstein - a chess master who made his career exposing and gambling on mispriced assets - is being sued by the Public Sector Pension Investment Board of Canada, formerly the largest investor in his hedge fund, Saba Capital.
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