Author Topic: Bill Hwang of Archegos..... play the white man's game and lost $20 billion  (Read 40 times)

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Offline hmgROCK

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it just a game... remember that... you can't eat money
my dude lost $20 billion in 2 days!!
that is balls of steel right there

TLDR version: 

he has like $2 billion (or whatever)
dude goes to every bank and try to take out a loan with his $2 billion as collateral
banks don't know he already went to other banks
infinity money glitch yoo!!!!!

my man is able to have $20 billion line of credit on his $2 billion whatever
bought viac stock, it tank
margin call, no money

Before he lost it all—all $20 billion—Bill Hwang was the greatest trader you’d never heard of.

Starting in 2013, he parlayed more than $200 million left over from his shuttered hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have stood out among the world’s billionaires. There are richer men and women, of course, but their money is mostly tied up in businesses, real estate, complex investments, sports teams, and artwork. Hwang’s $20 billion net worth was almost as liquid as a government stimulus check. And then, in two short days, it was gone.

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