The fall of John Devaney has been chronicled in bits and pieces. First came news that his yacht, the 142-foot Positive Carry, was up for sale. Then came news that his Aspen home was on the block. Turns out he also was forced to sell his Renoir and his Gulfstream. He opened up a bit to the New York Times, and at least is not making excuses. This week, after a painful attempt to keep his Horizon Strategy fund in business, he finally bowed to reality and shut it down. It's unclear how many of his funds have been shuttered. The final straw was a margin call from Deutsche Bank that he couldn't make. He says he tried to hang on for so long to save his investors from massive losses. He ultimately failed, and went down with his funds. He's vowing to come back.  

For more:
- here's the New York Times article

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