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Family Investment Fund Archegos Rattles the Markets

beebee
in Other Investing
Shares in some of the world’s largest banks plunged in Monday trading: Both Nomura Holdings Inc. and Credit Suisse Group AG fell 14% or more as they said they may face significant losses because of their exposure to wrong-way bets by Archegos. The New York-based family office was forced to liquidate over $20 billion in equity positions. Stocks including ViacomCBS Inc., Discovery Inc. and Chinese tech giant Baidu Inc. were caught in the episode.
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Comments

  • MarkMark
    The lack of interest here has me wondering. See, banks allow hedge funds to spend billions of dollars they don't have (margin) leading to extraordinary market volatility when the fund fails to make up it's losses. Meanwhile they all bunch up their panties when no-mind Reddit (and similar) traders gang up to smash the shorts. Yup, they're the problem.
  • Sven
    Reading that is totally unreal! Yet these investment banks are too greedy to resist.
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