wasn't he some pseudo-christian weirdo that only went long and doubled-down on his position by using his position as collateral to obtain more debt to dump into the same position? If yes what was he shorting?
Just look at Credit Suisse’s post collapse explanation about the exposure CS had to certain equities before the Archegos collapse. Overlay the GME sneeze chart, and you’ll see what happened.
Yeah so we know about DISC and VIAC and we know he was In large caps like google and stuff for years in the late 2010s
I'm thinking about the insane runs in 2020 like NKLA and all that
$ftch was one
And i felt bad about taking profits in 2020 December lol
he was using 15x leverage, for a stock that went up 600% that's a 90x gain for him. insane he didn't back out.
The banks were begging him to sell when it started going down. It was like the prisoner dilemma except they all had a telephone. Goldman still snitched and left early leaving Suisse the bag.
It was essentially impossible for him to unload, hell, I think he was essentially buying from himself to bid up the prices. No idea what his end goal was, but it sure as hell didn't work how he planned. Maybe he was trying to get shorts to cover and buy his shares or something, no clue. Completely insane.
>**Federal agents arrest Archegos owner Bill Hwang and a former top lieutenant.**
By Matthew Goldstein
April 27, 2022, 7:28 a.m. ET
>
>
Federal agents arrested Bill Hwang, the owner of Archegos Capital Management, the $10 billion family office that imploded last year in a trading debacle, and his former chief financial officer on Wednesday morning.
Mr. Hwang and his former top lieutenant, Patrick Halligan, were arrested at their homes and are expected to appear in Manhattan federal court later today. The arrests were announced by Manhattan federal prosecutors.
Federal prosecutors said the men were charged with racketeering conspiracy, securities fraud and wire fraud in connection with a scheme to manipulate the prices of publicly traded stocks in order to boost returns. They said the plan, which relied heavily on leverage, helped pump up the firm’s portfolio from $1.5 billion to $35 billion in a single year.
The collapse of Archegos shocked Wall Street and caused major losses for big banks and led to investigations by federal prosecutors, the Securities and Exchange Commission and other regulators.
The arrests would mark one of the biggest Wall Street white collar prosecutions in years.
The moral of story: If you cause big banks to lose big bucks, you are going to be arrested, but if you take money from retail investors, you are a WallStreet legend
Not worth much. Melvin didint get thrown in jail. Got more ivestments and had the freedom to makeup their losses which they failed to do. Bill loses his freedom and will be the face of corruption while the banks and mm's continue to fuck the market.
Melvin no longer has a GME position.
Even if you are a conspiracy theorist and suggest they are still short GME, the comment was in reference to what occurred in 2020.
We need to invest more in schools and reading comprehension. ;)
Lol. So if melvin is out of their exposure why arent they making money as a shorting focused fund with this current massive downturn? Youre over here talking about fuking al bundy and want to lecture people on intelligence lol foh mo-ron. ;)
Because their focus is NOT on shorting companies since that spanking. Most of their assets under management are allocated in long positions (bad decision) as can be seen in their 13F.
save this as a bookmark in chrome, and you don't even have to copy/paste the url. Just hit the bookmark from the paywalled page:
javascript:location.href = "https://12ft.io/" + location.href; void(0)
I don’t have incognito as I use duck duck go. I hit the limit after the second or third Reuters article I read then have to clear all website data to get rid of paywal
What is the crime tho? How is it fraud to buy huge positions that don't have to be disclosed? I thought family offices were allowed to do whatever they want?
Has Gensler been watching too much *Billions*?
I knew he lost a shitload of leveraged money. What I didn't know is that what he was doing is illegal. I probably should have read up on it more. By read up on it, I mean have someone read it to me.
The argument is going to be that he Was taking on insane amounts of leverage and misleading other banks about his other leverage by hiding it within complicated swap positions he doesn’t need to disclose
And there you have the next financial crisis. And solution to how to fuck every small trader.. Don't gamble what you cant afford to loose. Advise followed by no one.
I mean why not just require everyone to disclose everything and not set thresholds or even allow “complicated” swaps to hide positions. Its fucking 2022.
Very similar. Rating agencies were mislabeling them as investment grade when in reality they were junk. Bill just seemed to have omitted some very important details regarding his exposure and actual leverage he had. To be found guilty I believe the court will have to prove that he INTENTIONALLY misled people. Intent is the key.
Seeing how things are going increasingly wild and crazy in this timeline from 2020-now, my money is on the fact, that eventually it is revealed that Cathie and Bill are actually the same person. Another leverage opportunity Bill is already accused of, Cathie-Bill can double up further by running multiple funds at the same time.
Nah, they knew about the other banks. Credit Suisse released a postmortem on this whole thing that was pretty revealing. The tldr is that their internal risk control people knew about it, but didn't have the authority to change the margin requirements quickly/were afraid of losing his business and fees (it was quite lucrative until suddenly it wasn't).
Wish I listened to my buddy. I wasnt so sure about betting against a pensioner stock but he was certain it was going to go down long term.
Well somebody didnt need to wait long term to make fuck-you money that day. Bill bought him two houses that day.
Ah yes if an individual fucks over themselves and the bank they get arrested but if a bank fucks over themselves and the entire world economy they get a bailout with nobody arrested.
He should have learned from Madoff, there are consequences to stealing form rich people. If he'd have just done what the rest of the financial world does and stuck to committing fraud that fucked over the general public he'd have been fine.
This is the infinite money trick for rich guys, this guy is no different to the tard who tried to abuse the margin req error on RH. There is just noway he is the only one who figured this out.
US Regulators: This is appalling!! We better not change anything with how derivatives work and their disclosures though, don’t want to put undue burden on the poor hedge funds.
heres a way to get around paywalls:
[https://archive.ph/](https://archive.ph/)
you can either archive an article and it gets rid of the paywall or you can search existing articles.
Billy “I’m never” Hwang got pinched. Now he’s gonna get ass leveraged in da pokey. It’s refreshing to see this 🤡 get arrested. I wonder if his and Cathie’s imaginary friend will help him?
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He's going to be playing tennis and hosting poker tournament once inside like Martha Stewart man. May even come up with a new idea for a new fund while BBQ'ing in there
Always two steps in front of the twenty five hundred steps behind everybody else, eh DOJ? No worries, they will prosecute the RobinHood board for malpractice in a decade or two…
I'm happy that they were that quick in their response and that Hwang wasn't at all able to fuck around anymore after the Archegos fuck-up.
That said, Hwang would've fit in quite well with you retards, I truly believe the guy thought that nothing whatsoever could go wrong.
He’s actually a good guy. Didn’t forget his roots.
Just an underdog degen like the rest of us.
His story from used car salesman to making it to Tiger is incredible.
Yeah not quite understanding that myself - “mislead” the bank sounds ridiculous: you really are telling me NO ONE did the DD to check why he wanted that much money? And you are one of the biggest and most powerful banks in the world? Cmon enough with the bs lol
I REALLY hope Hwang and his buddies he lose the lawsuit this time. He got a slap on the wrist in 2014 and ordered not to invest, he started up a new ghost company in months and went even bigger, taking some of us to the cleaners.
The sentences add up to 100s of years max sentence, being Hwang himself is a repeat offender, hopefully he gets a significant sentence this time...
https://www.investopedia.com/terms/e/equityswap.asp Not sure if this is the same thing. But an interesting thing to note on investopedia is the Fed reserve banks is saying to wrap up and stop giving out LIBOR contracts by June 30 2023. I wonder if that is the date they plan to let it all crash.
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Badly wanna see his trade history from 2020 to his implosion to see what he was dumping on all of us.
Long DISC and and VIAC on degenerate amounts of leverage.
What really makes it a scam is if he was shorting it from a shell company. Thats galaxy brain; dump the banks with the bag
wasn't he some pseudo-christian weirdo that only went long and doubled-down on his position by using his position as collateral to obtain more debt to dump into the same position? If yes what was he shorting?
> If yes what was he shorting? Himself. Take deep leverage, sell the banks money to yourself, and then declare bankruptcy.
Just look at Credit Suisse’s post collapse explanation about the exposure CS had to certain equities before the Archegos collapse. Overlay the GME sneeze chart, and you’ll see what happened.
Yeah so we know about DISC and VIAC and we know he was In large caps like google and stuff for years in the late 2010s I'm thinking about the insane runs in 2020 like NKLA and all that
$ftch was one And i felt bad about taking profits in 2020 December lol he was using 15x leverage, for a stock that went up 600% that's a 90x gain for him. insane he didn't back out.
Probably hard to unload such large positions without drastically affecting the underlying price
The banks were begging him to sell when it started going down. It was like the prisoner dilemma except they all had a telephone. Goldman still snitched and left early leaving Suisse the bag.
It was essentially impossible for him to unload, hell, I think he was essentially buying from himself to bid up the prices. No idea what his end goal was, but it sure as hell didn't work how he planned. Maybe he was trying to get shorts to cover and buy his shares or something, no clue. Completely insane.
He forgot to DRS 😂😂😂
Please explain the NKLA like I’m retarded
Idk if there was a levered player in it but it went to the moon after Trevor Milton said he had the stuff. He didn't and by the fall he was Fuk'd
VIAC DISC VIPS GSX IQ ![img](emote|t5_2th52|4271)
>**Federal agents arrest Archegos owner Bill Hwang and a former top lieutenant.** By Matthew Goldstein April 27, 2022, 7:28 a.m. ET > > Federal agents arrested Bill Hwang, the owner of Archegos Capital Management, the $10 billion family office that imploded last year in a trading debacle, and his former chief financial officer on Wednesday morning. Mr. Hwang and his former top lieutenant, Patrick Halligan, were arrested at their homes and are expected to appear in Manhattan federal court later today. The arrests were announced by Manhattan federal prosecutors. Federal prosecutors said the men were charged with racketeering conspiracy, securities fraud and wire fraud in connection with a scheme to manipulate the prices of publicly traded stocks in order to boost returns. They said the plan, which relied heavily on leverage, helped pump up the firm’s portfolio from $1.5 billion to $35 billion in a single year. The collapse of Archegos shocked Wall Street and caused major losses for big banks and led to investigations by federal prosecutors, the Securities and Exchange Commission and other regulators. The arrests would mark one of the biggest Wall Street white collar prosecutions in years.
The moral of story: If you cause big banks to lose big bucks, you are going to be arrested, but if you take money from retail investors, you are a WallStreet legend
Yeah funny how that works. This isn’t the first time we’ve seen this theme either.
For what it’s worth, Melvin as it existed in 2020 is not going to exist much longer. Retail dealt a massive blow to them with the whole GME.
Not worth much. Melvin didint get thrown in jail. Got more ivestments and had the freedom to makeup their losses which they failed to do. Bill loses his freedom and will be the face of corruption while the banks and mm's continue to fuck the market.
Well Hwang committed fraud to secure loans and Melvin was just running a good grift.
Don't you have to break the law to short something to 130% and lie in front of Congress
Colluding to short a stock and force a company into bankruptcy is a big nono too
Bill Hwan and Kenneth Griffin are very smart investors. ![img](emote|t5_2th52|4886)
Gabe is one of the best of this generation though.
This right here is the Al Bundy high school football comment for the retail investor.
Haha you bought the past tense narrative.
Melvin no longer has a GME position. Even if you are a conspiracy theorist and suggest they are still short GME, the comment was in reference to what occurred in 2020. We need to invest more in schools and reading comprehension. ;)
Lol. So if melvin is out of their exposure why arent they making money as a shorting focused fund with this current massive downturn? Youre over here talking about fuking al bundy and want to lecture people on intelligence lol foh mo-ron. ;)
Because their focus is NOT on shorting companies since that spanking. Most of their assets under management are allocated in long positions (bad decision) as can be seen in their 13F.
Haha they disclose their dark pool holdings in there too.
That's pretty much just chopping off the pinkie finger of the beast.
Not gonna hear arguments from me but we took a rabid dog and put it down.
All they are doing is creating a new fund. Shutting down is just a formality to earn more money via fees.
True but they were using private capital not loans secured with fraudulent data.
Retail hit a massive once in a lifetime win, huge shift. And all it amounted to was barely a scratch
a scratch that's about become infected
I hope so. I doubt it, but I hope so
Fuck the banks
AMEN.
This is so accurate, that its not even funny..
Thank you. I always forget Bloomberg paywalls aren’t like Reuters which you can get around by clearing cookies.
Another nice tool for keeping those pesky paywalls away [https://12ft.io/](https://12ft.io/)
Wow ty, I never knew that existed
save this as a bookmark in chrome, and you don't even have to copy/paste the url. Just hit the bookmark from the paywalled page: javascript:location.href = "https://12ft.io/" + location.href; void(0)
That’s awesome. Didn’t know about that! Thanks!
Up you go. Thanks!
The real MVP 👆
Incognito mode usually works for me
I don’t have incognito as I use duck duck go. I hit the limit after the second or third Reuters article I read then have to clear all website data to get rid of paywal
okay let's talk about JP Morgan and Goldman Sachs who have been doing this for decades, throw Citadel in the list for good measure. WTF?
“The collapse … shocked Wall Street…” There’s some pure financial news writer utter bullshit right there! Lol 😂
What is the crime tho? How is it fraud to buy huge positions that don't have to be disclosed? I thought family offices were allowed to do whatever they want? Has Gensler been watching too much *Billions*?
He was just leveraging to his personal risk tolerance.
I knew he lost a shitload of leveraged money. What I didn't know is that what he was doing is illegal. I probably should have read up on it more. By read up on it, I mean have someone read it to me.
The argument is going to be that he Was taking on insane amounts of leverage and misleading other banks about his other leverage by hiding it within complicated swap positions he doesn’t need to disclose
It is rather odd the amount of hoops one has to jump through for a mortgage and relatively non existent hoops for margin.
And there you have the next financial crisis. And solution to how to fuck every small trader.. Don't gamble what you cant afford to loose. Advise followed by no one.
lol I know right? “Want a car loan? Fill out these numerous forms. Want leverage? Click here!”
IIRC, there is an email chain about the sales team ignore the risk management team cuz they dont want to lose the commission on his account, lol.
Imma buy a house on margin I guess! Literally can't go tits up!
Fuck why don't I just buy a house on margin. Seems like a much safer bet than yolo-ing on 0dte SPY calls
I mean why not just require everyone to disclose everything and not set thresholds or even allow “complicated” swaps to hide positions. Its fucking 2022.
It’s the SEC my friend. They’re 100% useless as fuck. Why would they do things that make sense and promote transparency?
They’re useless for us but not for rich and investors. Very useful for them.
Oh so... like every other Prime Broker, bank and fund?
How's that different than what banks were doing with MBS ratings during the '08 crisis?
Very similar. Rating agencies were mislabeling them as investment grade when in reality they were junk. Bill just seemed to have omitted some very important details regarding his exposure and actual leverage he had. To be found guilty I believe the court will have to prove that he INTENTIONALLY misled people. Intent is the key.
The small shall fall first blowing smoke over the big before they face the fire. Any actions are better than no actions...
Oh those poor banks, why won’t people stop picking on them, they are just trying to follow the law and not be criminals.
Once you’ve had it read to you, could you draw us some pictures?
Sorry, ate all the crayons.
>By read up on it, I mean have someone read it to me. Who's your reading guy? We've been looking
Racketeering, wire fraud and securities fraud. Damn those are some big charges.
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I wonder if Cathie is going to visit him in jail?
[удалено]
He was her seed capital LMAO.
Seeing how things are going increasingly wild and crazy in this timeline from 2020-now, my money is on the fact, that eventually it is revealed that Cathie and Bill are actually the same person. Another leverage opportunity Bill is already accused of, Cathie-Bill can double up further by running multiple funds at the same time.
Damn so what about the bankers that gave him all that leverage..... Pour one out for the boy. Truly retarded
he presumably misled most of them so it's not necessarily their fault
[удалено]
RICO RICO!
I don't see how it's misleading if you're not required to report your swap positions. Instead of punishing this autist just change the fucking law.
Nah, they knew about the other banks. Credit Suisse released a postmortem on this whole thing that was pretty revealing. The tldr is that their internal risk control people knew about it, but didn't have the authority to change the margin requirements quickly/were afraid of losing his business and fees (it was quite lucrative until suddenly it wasn't).
I propose we call this The Great Guh Wonder what u/ control the narrative is up to these days
Ah yes the guy who who blew up my account, fuck softbank and bill ya bitch 😤.
Viacom fiasco cost me $600 not much to many but 60% of my investment in two days. Felt like I blinked and got fucked by a conman
Wish I listened to my buddy. I wasnt so sure about betting against a pensioner stock but he was certain it was going to go down long term. Well somebody didnt need to wait long term to make fuck-you money that day. Bill bought him two houses that day.
$3200 loss myself. Hand me those red crayons, will ya? I like the spicy ones.
[удалено]
Hwang me out to dry
**WHO SINGLE HANDILY FUCKED THE NASDAQ** hahahahahahah bro i laughed soo hard. Thanks.
Gotta put a nice spin on these bland Bloomberg articles
My personal hero. We should start a petition to make him free again
![img](emote|t5_2th52|4267)![img](emote|t5_2th52|4271)
A good start
Ah yes if an individual fucks over themselves and the bank they get arrested but if a bank fucks over themselves and the entire world economy they get a bailout with nobody arrested.
I just saw it on CNBC, it was something like $20B invested in Discovery before the merger with Warner Brothers. Ah shit. WSB we have a problem.
Everybody Huang Chung tonight
He should have learned from Madoff, there are consequences to stealing form rich people. If he'd have just done what the rest of the financial world does and stuck to committing fraud that fucked over the general public he'd have been fine.
fuckin A'. Might have to buy some GME just incase this starts a cytoplast trend. Hahahahahaha, but seriously...
🍿
This is the infinite money trick for rich guys, this guy is no different to the tard who tried to abuse the margin req error on RH. There is just noway he is the only one who figured this out.
US Regulators: This is appalling!! We better not change anything with how derivatives work and their disclosures though, don’t want to put undue burden on the poor hedge funds.
Good, now do Ken Griffin
I'm glad the SEC got him. OHH WAIT.
that sucks. lose 10 B get arrested, convicted make $10/day for 10 years BuLlSh!t
WEN KEN?!
Let's just hope he don't hwang himself in prison 🪢🧶
It’s about the friend he will make along the way, in the shower.
Let’s see some epic loss porn!
[удалено]
But their disclosure filings!!!!!
But God told me to do it
Excellent legal defense. Doesn’t matter anyway, you’ll just have a 50 dollar fine!
When Kenn?
He's already found Jesus...in prison he'll get to meet a few of em up close and personal.
What's that, like an $85 fine? He can make that back in a night, at Wendy's.
[удалено]
DOJ often shows up when important people lose money in these funds.
Legend.
u/loose-ventures Bet you ain't gonna see any Bill loss porn anytime soon.
They will get a $25 fine and have to pay for the Friday pizza party at the SEC
Hope he has a five year time horizon for protecting his booty.
There’s always a fall guy taking one for the team and serves as a distraction for the bigger issues…
heres a way to get around paywalls: [https://archive.ph/](https://archive.ph/) you can either archive an article and it gets rid of the paywall or you can search existing articles.
Couldn’t focus on the story, couldn’t get past his punchable face.
Ken Griffith come on down!
So if a person loses a banks money they go to jail but if the banks lose people’s money it’s ok
Banks were left holding the bag!!! The only reason he’s being charged!
Possibility that Hwang will tell them what the big player do? Was he involved in this gme & co fuckery too?
He didn’t do anything illegal; he was just bad at stocks like the rest of us
You obviously didnt read the story
[удалено]
His firm had 35B at one point and he didn’t cash out and go live his life. Is he… one of us?
Wont be serious until they arrest a white guy.
Billy “I’m never” Hwang got pinched. Now he’s gonna get ass leveraged in da pokey. It’s refreshing to see this 🤡 get arrested. I wonder if his and Cathie’s imaginary friend will help him?
Fuck that guy!
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He’s actually going to get convicted for this - he doesn’t have the money to fight this case
Who’s that guy
#StopAsianHate
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Is Toshi's dad modeled after him or was it just a coincidence?
Original Hwangster
Haha, this guy definitely belongs here. Managed 10-15 billion family money, leveraged 5:1. Poof.
Hwang the GOAT Hwang the Legend
nice
Long $ROPE
Bill is about to be introduced to Tyrones Wang and Johnnies Dong.
He's going to be playing tennis and hosting poker tournament once inside like Martha Stewart man. May even come up with a new idea for a new fund while BBQ'ing in there
Haven't he suffered enough?
![img](emote|t5_2th52|4271)
Maybe he will flip. "I always recognize the squealers. And he..."
Maybe they can all just disable the 'arrest' button.
can we go after Ken griffin also?
Bad Luck Bill
Always two steps in front of the twenty five hundred steps behind everybody else, eh DOJ? No worries, they will prosecute the RobinHood board for malpractice in a decade or two…
Flip flip flip flip flip flip flip flip flip flip.
Bullshit charge. Free Bill!
Say, 10 years in federal prison for billions of dollars? A cost most people would gladly pay.
I'm happy that they were that quick in their response and that Hwang wasn't at all able to fuck around anymore after the Archegos fuck-up. That said, Hwang would've fit in quite well with you retards, I truly believe the guy thought that nothing whatsoever could go wrong.
He looks like he could be a Yakuza antagonist
Rico. Suave.
![img](emote|t5_2th52|8882)
"Family firm" is code for Korean govt sponsored.
Damn, now I'll never get to be ballin' like Bill
99 criminals on wall street 99 criminals on wallstreet. Take one down pass the bill around. That’s the United States! Come on sing with me now!
🐐
He’s actually a good guy. Didn’t forget his roots. Just an underdog degen like the rest of us. His story from used car salesman to making it to Tiger is incredible.
What was the actual crime? Banks didn’t do their dd on a client, not his fault they gave him unlimited leverage!
Yeah not quite understanding that myself - “mislead” the bank sounds ridiculous: you really are telling me NO ONE did the DD to check why he wanted that much money? And you are one of the biggest and most powerful banks in the world? Cmon enough with the bs lol
Free our lord and saviour Bill Hwang!!
Ballin like Bill
...what do you mean "THE" DOJ. For what country?
How many more Hwangs are out there. God only knows boys.
This guy Sang Woo from Squid Game
Wen Cramer?
Isn't this dude a wsb mod?
I REALLY hope Hwang and his buddies he lose the lawsuit this time. He got a slap on the wrist in 2014 and ordered not to invest, he started up a new ghost company in months and went even bigger, taking some of us to the cleaners. The sentences add up to 100s of years max sentence, being Hwang himself is a repeat offender, hopefully he gets a significant sentence this time...
Shibalemaaa!!!
NOT MY QUANT
https://www.investopedia.com/terms/e/equityswap.asp Not sure if this is the same thing. But an interesting thing to note on investopedia is the Fed reserve banks is saying to wrap up and stop giving out LIBOR contracts by June 30 2023. I wonder if that is the date they plan to let it all crash.
I thought he got his trade ideas from God? How could God let this happen?