Gray Watson's Blog -- March 2021

Blogging is a useful way for me to record my thoughts and digital travels every so often. Hope you enjoy my digital stream of consciousness.

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March 29, 2021

Amazing story about how private investment firm Archegos Capital Management lost US$30 billion in valuation because of some margin calls.
One part of the answer is that Hwang set it up as a family office with limited oversight and then employed financial derivatives to amass big stakes in companies without ever having to disclose them. Another part is that global banks embraced him as a lucrative customer, despite a record of insider trading and attempted market manipulation that drove him out of the hedge fund business a decade ago.