Bill Hwang, "Tiger Cub Archegos Liquidation Triggers Record Crash in Discovery, ViacomCBS "

The GS and Morgan BWIC was clearly handled aggressively to be one and done on Friday. I'd be long (I was long 60 futures, now 15) if not for the Nomura news.

Anyway, it looks like the BWIC fills took Hwang close to zero or possibly debit.
 
Morgan Stanley shopping another 45 million VIAC Sunday night. Archegos have managed to lever $15b aum five times as they have registered as a family office not as a hedge fund and do not have to disclose positions.

VIAC should bid $10 a share. They sold stock at $85 last week!

see zerohedge Twitter.
 
ZBZB said:
Morgan Stanley shopping another 45 million VIAC Sunday night. Archegos have managed to lever $15b aum five times as they have registered as a family office not as a hedge fund and do not have to disclose positions.

VIAC should bid $10 a share. They sold stock at $85 last week!

see zerohedge Twitter.
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Then the guy is debit. And no way he was worth $15B or whatever, so he was handling OPM.
 
ZBZB said:
Morgan Stanley shopping another 45 million VIAC Sunday night. Archegos have managed to lever $15b aum five times as they have registered as a family office not as a hedge fund and do not have to disclose positions.

VIAC should bid $10 a share. They sold stock at $85 last week!

see zerohedge Twitter.
More...


No liquidity on VIAC in Asia. I don't believe a word of those tin hat Q mofos at ZeroBrain.
 
destriero said:
No liquidity on VIAC in Asia. I don't believe a word of those tin hat Q mofos at ZeroBrain.
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Nomura down 10% as they take $2b loss liquidating a fund.

All the prime brokers are liquidating the fund. Goldman front run the others on Friday after agreeing not to.
 
tayte said:
http://ipo-edge.com/2021/03/26/excl...-record-crash-in-discovery-viacomcbs-sources/

"
  • Shares of ViacomCBS, Discovery fell as much as 35% Friday
  • Goldman Sachs offered very large block shares of ViacomCBS Friday afternoon – Sources
  • Multiple prime brokers sold shares aggressively Friday afternoon
  • Archegos typically employs high leverage on its stock positions
  • ViacomCBS earlier this week conducted large secondary offering
By John Jannarone and Jarrett Banks

A liquidation of holdings at several major investment banks with ties to Tiger Cub Archegos Capital Management LLC contributed to an unseen daily decline Friday in shares of stocks including Discovery, Inc. and ViacomCBS Inc., according to people familiar with matter.

Shares of media conglomerate ViacomCBS fell 26% while Discovery dropped 27% Friday, recovering from far steeper losses. The degree of the declines was unprecedented and occurred in an otherwise orderly market.

Early selling came through so-called block trades from Goldman Sachs & Co., which offered over 30 million shares of ViacomCBS in midday trading. Morgan Stanley, earlier in the day, offered over 15 million shares of Discovery, according to people familiar with the matter.

The common thread is defunct Tiger Asia Management LLC founder Bill Hwang, who now runs Archegos Capital. His fund was and may still be an large owner of shares in both ViacomCBS and Discovery. Mr. Hwang did not respond to phone calls, emails, or Bloomberg messages sent by IPO Edge.

Mr. Hwang’s fund is known for employing leverage, meaning it borrows to invest in more securities than it could own with its own capital. One person familiar with the matter said Mr. Hwang’s fund received a margin call from one of the investment banks – not necessarily Morgan Stanley or Goldman Sachs – and was unable to meet it. As a result, that bank and others began to liquidate stocks owned by Archegos.

Several other stocks swooned Friday for no apparent reason, but may be related to Mr. Hwang’s fund, which focuses on telecom, media, and technology, or TMT.

Phone calls and emails to ViacomCBS, Discovery, Goldman Sachs, and Morgan Stanley were not returned late Friday evening.



Contact:

John Jannarone, Editor-in-Chief

editor@IPO-Edge.com
"
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and US index futures went up massively during end of Last Fri trading session.
 
You arrived at that judgement 2 seconds after you heard the word "God"? LOL. He overleveraged and got burnt, with plenty of corpses littering the street due to overleverage. But it does not make him stupid because he is Christian.

destriero said:
This guy is a fucking idiot. Apparently God turned on him.

"It's not all about money."

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I am long yen to cover the period before US market open, I stick to my guns, believe there is more downside in the market ahead.

DiceAreCast said:
If you only take into account this one single observation then you are right. Not in the context of all past bubbles. Neither I nor anyone knows the exact timing but I have a bearish bias despite the low interest policies. I am at least prepared to take advantage should tomorrow and the next couple weeks turn out to be a harbinger for things to come.
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