Re:One of World’s Greatest Hidden Fortunes Is Wiped Out in Days
by caminocorner on Thursday April 01, 2021 @11:02AM
(#26661302)
> Hwang and his private investment firm, Archegos Capital Management, are now at the center of one of the biggest margin calls of all time -- a multibillion-dollar fiasco involving secretive market bets that were dangerously leveraged and unwound in a blink.
> One part of Hwang’s portfolio, which has been traded in blocks since Friday by Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co., was worth almost $40 billion last week. Bankers reckon that Archegos’s net capital -- essentially Hwang’s wealth -- had reached north of $10 billion. And as disposals keep emerging, estimates of his firm’s total positions keep climbing: tens of billions, $50 billion, even more than $100 billion.
> It evaporated in mere days.
This is the primary gist of the article. The future will tell
Re:One of World’s Greatest Hidden Fortunes Is Wiped Out in Days
by Clampower on Thursday April 01, 2021 @02:21PM
(#26664193)
Jesus, what is this site? Clickbaity title “One of the world’s greatest hidden fortunes is wiped out in days (click to find out what it is ;))”, GDPR warning you need to individually opt out for, and then before you can even see what the great fortune is, a focus stealing pop up to Sign up for their newsletter! I backed out and lost interest in what that fortune is.
> One part of Hwang’s portfolio, which has been traded in blocks since Friday by Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co., was worth almost $40 billion last week. Bankers reckon that Archegos’s net capital -- essentially Hwang’s wealth -- had reached north of $10 billion. And as disposals keep emerging, estimates of his firm’s total positions keep climbing: tens of billions, $50 billion, even more than $100 billion.
> It evaporated in mere days.
This is the primary gist of the article. The future will tell