![]() The firm has sought a review of whether someone at the bank might have tipped off outsiders to its plan to buy Futu stock in bulk. Hwang is a former protégé of hedge-fund titan Julian Robertson, who founded Tiger Management in 1980 and turned an initial 8. Archegos alerted US authorities to that costly episode after the emergence of the block-trading probe this year, one of the people said. That jump took an almost $4 billion bite out of Hwang’s portfolio. But before Hwang managed to defuse the bet, Futu’s price skyrocketed, gaining more than 400% in the two months after that Christmas. He told Morgan Stanley he needed to buy a large block of shares to unwind the position, according to people with knowledge of the episode. Hwang holds an economics degree from UCLA and a MBA from Carnegie Mellon. using swaps, and wanted to close out his position around the end of 2020. Bill (Sung Kook) Hwang is a Korean American investor. Hwang had placed a massive short bet on Futu Holdings Ltd. Months before all of that, Archegos was trying to exit a wager against a Chinese online broker and sought help from Pawan Passi, the Morgan Stanley banker facing close scrutiny in a US probe of whether Wall Street is too loose-lipped when handling big trades. Before Bill Hwang sent a slate of stocks on a manic climb last year, he had already started bleeding billions of dollars on a bearish bet after seeking. It’s an untold chapter that played out just before Hwang’s famously bullish trades came tumbling down in early 2021, wiping out his Archegos Capital Management and leading to criminal charges. Before Bill Hwang sent a slate of stocks on a manic climb last year, he had already started bleeding billions of dollars on a bearish bet after seeking Morgan Stanley’s help, Bloomberg News reported.
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