How to Lose $20 Billion in Two Days

It would be hard to find someone who lost as much money as quickly as Bill Hwang did in March 2021. The previously unknown Wall Street whale and his family firm, Archegos Capital, triggered losses of more than $20 billion in just two days. The result was one of the most spectacular implosions in modern financial history. 

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[christopherbundoc]

“Apparently the Holy Spirit likes using 5:1 leverage in his investment portfolio.” -Benjamin

[dureykothao]

YOLO-ing for the father, son and holy spirit

[owenb]

Bill took from the rich and gave to the retail investor. A true Christian

[psycheisssdelic]

200m to 20b in only 7 years, that is still a legendary achievement. had he cashed out we probably wouldnt even know his name.

[doomavatar]

At this point I'm just glad the man was honest about his moves. It's the banks fault that they backed what is effectively a WSB yolo position

[yasinmahmudchowdhury]

A true Wallstreetbets GOD. He should be eternalized as a WSB Hall of Fame.

[boyboiboi]

If it had went the other way, he would have been immortalised as a legend lol.

[plantiron]

*So what's your investment strategy ??*

Hwang: Jesus take the wheel

[anthonyzeal]

When you succeed you’re praised..when you fail you’re vilified.

[lukmanabdinasir]

He forgot the 11th Commandment: Thou shalt be careful with the leverage.

[Val_kyriee]

My granduncle, who is a very religious man (born again types) and is settled in the US, once praised Bill to us at a family dinner. This was just a few months before this whole thing blew open. The whole "Christian" angle played very well amongst the "Christian" crowd.

[jewellwalker]

It’s important to remember that no investment strategy is likely to produce market-beating returns year after year and none are immune from the risk of losing money.

[Saidul_]

Few years ago a Bus didn't return my change.
I still get anxiety for that.

[Novilicious]

Make a movie out of it!!!! Call it the “preacher of Wall Street”

[alumezi]

Here is how: You lose $10B one day and than the next day you loose another $10B.

[John-hphg]

Say what you will, but this guy has balls of steel. It takes a very special person to do what he did. I would love to get his side of the story.

[siduk]

Why does every huge hit to american markets usually start with Goldman Sachs

[hanifmsomc]

"And anytime I see the name Goldman Sachs, I am always curious." 😂

[kartiersupremewhite]

Extremely interesting and informative.

[djayjp]

Good doc but should've included a deeper discussion of the swaps and the extent of leverage. Still puzzled how he made 100x returns in 7 years, even with 5x leverage. Also it didn't discuss the key reason it imploded: each bank didn't know about the other banks' positions, therefore each believed Hwang's overall position was much smaller than it actually was (not doing DD).