Comeback quashed for faith-driven investor Bill Hwang
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Comeback quashed for faith-driven investor Bill Hwang
本帖最後由 geemong 於 2021-3-30 17:32 編輯
Comeback quashed for faith-driven investor Bill Hwang
Bill Hwang’s comeback was วิธีเล่นเกมยิงปลา nearly complete. Once punished by U.S.
and Asian regulators for stock trading rule violations at his former hedge fund,
the New York investor rebuilt his fortune to about US$10 billion. Major Wall Street
banks once again competed for his business. And his charitable foundation’s
coffers swelled by hundreds of millions of dollars.
Hwang was making big money again, inspired by a renewed Christian faith.
“When we create good companies through the capitalism that God has allowed,
it enhances people’s lives….God delights in those things,” Hwang said in a video
posted online in 2019
But Hwang’s image on Wall Street unravelled again in the last week as Archegos
Capital Management LP, the so-called family office that handled his fortune,
defaulted on margin calls and triggered a fire sale of stocks, according to sources.
As a result, Japanese bank Nomura and Switzerland's Credit Suisse are facing
billions of dollars in losses.
Hwang did not directly respond to messages seeking comment.
Karen Kessler, a spokesperson for Archegos, said in an emailed statement,
“This is a challenging time for the family office...our partners and employees.
All plans are being discussed as Mr. Hwang and the team determine the best
path forward.”
The son of a Korean pastor father, Hwang moved to the United States as a child
and earned business degrees at the University of California, Los Angeles,
and Carnegie Mellon University.
He honed his stock-picking skills from 1996 to 2000 at Tiger Management,
billionaire Julian Robertson’s pioneering hedge fund firm famed for betting on
pairs of companies from the same industry, going long one seen as a winner
and short the other identified as a laggard.
In 2001, Hwang launched his own hedge fund business, Tiger Asia Management,
with seed money from Robertson, making him part of an elite group of Robertson
proteges dubbed the Tiger Cubs. |
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