![]() Robertson initially spent 22 years working in many different sales positions at investment banks before founding his own fund, Tiger Asset Management, in 1980.īut Robertson knew he couldn’t do it alone, and that he needed a team. Hwang’s career started out working for Wall Street legend Julian Robertson. If you can identify what went wrong, maybe you can avoid trading stocks tied up in similar situations in the future. Traders can learn a lot from examining some of Hwang’s practices. So what happened to Bill Hwang and Archegos? In March, the unwinding of Hwang’s positions in ViacomCBS and Discovery led to a massive fire sale, causing the stocks to lose nearly two-thirds of their value, and forcing Hwang’s prime brokers to take massive losses on the chin.Ĭredit Suisse lost $4 billion, Japanese bank Nomura lost $2 billion, while a spattering of other brokers Hwang dealt with also took significant financial blows.īut the way Hwang designed his portfolio was very unique, setting the stage for the collapse in a way only he could imagine. ![]() Such requests are a sign of a much larger investigation brewing within the DOJ, as investigators scramble to piece together the sordid tale of a $30 billion fund going belly-up overnight. Justice Department prosecutors in New York City sent information requests to several of the banks that provided Hwang leverage. As if things couldn’t get any worse for blown-up hedge fund manager Bill Hwang, today U.S.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |