Morgan Stanley, Goldman Sachs and Wells Fargo take stock of Archegos disaster

seekingalpha2021-04-19

With Wall Street still smarting from last month's collapse of Archegos Capital — Bill Hwang's family office — executives atbanks discussed its impact on their businesses in last week's Q1 earnings ...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

Jellywonka
2021-04-19
Jellywonka
Comment and like
- DukeAlan:
  👍
Meowtato
2021-04-19
Meowtato
How long more Will this last
7b7349c2
2021-04-19
7b7349c2
hi
- 8d169ad:
  ok
xiaochan
2021-04-19
xiaochan
Wow! Buy!
xiaochan
2021-04-19
xiaochan
Wow
- 7b7349c2:
  wow
- 8d169ad:
  woww
TaiGerGenie
2021-04-19
TaiGerGenie
The figures discussed is just unbelievable. However who would say no to business

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/1141323038?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-04-19 09:08","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"1141323038","market":"us","top_or_hot":-1,"title":"Morgan Stanley, Goldman Sachs and Wells Fargo take stock of Archegos disaster","media":"seekingalpha","content":"<div>\n<p>With Wall Street still smarting from last month's collapse of Archegos Capital — Bill Hwang's family office — executives atbanks discussed its impact on their businesses in last week's Q1 earnings ...</p>\n\n<a href=\"https://seekingalpha.com/news/3682703-morgan-stanley-goldman-sachs-and-wells-fargo-take-stock-of-archegos-disaster\">网页链接</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley, Goldman Sachs and Wells Fargo take stock of Archegos disaster</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley, Goldman Sachs and Wells Fargo take stock of Archegos disaster\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-19 09:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3682703-morgan-stanley-goldman-sachs-and-wells-fargo-take-stock-of-archegos-disaster><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With Wall Street still smarting from last month's collapse of Archegos Capital — Bill Hwang's family office — executives atbanks discussed its impact on their businesses in last week's Q1 earnings ...</p>\n\n<a href=\"https://seekingalpha.com/news/3682703-morgan-stanley-goldman-sachs-and-wells-fargo-take-stock-of-archegos-disaster\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GS","symbol_name":"高盛","start_time":0,"source_url":"https://seekingalpha.com/news/3682703-morgan-stanley-goldman-sachs-and-wells-fargo-take-stock-of-archegos-disaster","article_id":"1141323038","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1141323038","pubTimestamp":1618794487,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"With Wall Street still smarting from last month's collapse of Archegos Capital — Bill Hwang's family","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GS":"高盛","WFC":"富国银行","MS":"摩根士丹利"},"translate_title":"摩根士丹利、高盛和富国银行评估Archegos灾难","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GS":0.9,"MS":0.9,"WFC":0.9},"content_text":"With Wall Street still smarting from last month's collapse of Archegos Capital — Bill Hwang's family office — executives atbanks discussed its impact on their businesses in last week's Q1 earnings calls.Morgan Stanley(NYSE:MS)CEO James Gorman said his firm will \"certainly belooking hard at family office-typerelationships, where they're very concentrated and you have multiple prime brokers.\"The experience, though, doesn't mean that Morgan Stanley will be pulling out out of the prime brokerage business. Gorman calls the unit a \"gem of a business\" that generated \"something close to $40B in revenue in a decade. It's a core part and backbone of the equities business.\"The bankposted a $911M lossfrom the Archegos collapse in Q1 — $644M on the amount the client owned the company and $267M incremental loss on de-risking its remaining smaller long and short positions related to Archegos.The bank reportedlysold $5B in sharesof companies that Archegos was forced to unload late on March 25, the night before the massive sale of securities by other firms.He also commented that he's \"sure\" the SEC will be looking into the lack of disclosure relating to family offices, which aren't required to disclose as much as hedge funds are.Goldman Sachs(NYSE:GS)Chairman and CEO David Solomon said Archegos was an investor with \"highly concentratedand leveraged positions. This is not the first time we've seen a situation like this, and it likely won't be the last.\"But it's essentially why banks have risk controls. \"Our risk controls, all of which were put in place long before the March events, worked well. We identified the risk early and took prompt action consistent with the terms of our contract with the client,\" he said.In Goldman's case, the firm avoided losses related to the Archegos events. As it continues to grow its prime business, \"we are well aware of the risks inherent in that business and the resources including liquidity that are consumed,\" CFO Stephen Scherr said.He adds that the company looks at \"consolidated or overly consolidated concentrated positions in individual accounts. We look for excessive position concentration across the whole of our business.\"Solomon said the Archegos situation was unusual in that \"This particular fund wound up with very concentrated positions very quickly.\"\"I do think to some degree, this was a one-off event.\"Like Gorman, he expects there will be regulatory discussion on the topic and expects Goldman will participate in those talks, but it's too early to speculate on what actions regulators may take in response.Wells Fargo(NYSE:WFC)CEO Charlie Scharf commented on the Archegos matter during hiscompany's earnings call, repeating that the bank was alwayswell collateralized. \"We exited it all of our exposure with no loss, and I'll just add that we had substantial excess collateral after liquidation.\"Late last month, JPMorgan analysts had estimated banks acting as prime brokers for Archegos maysuffer a total loss of as much as $10B. Nomura indicated a potential loss of $2B and later said it would take a$4.7B hit from the family office's failure.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":373003832,"gmtCreate":1618799209226,"gmtModify":1634290846211,"author":{"id":"3570614147611531","authorId":"3570614147611531","name":"Jellywonka","avatar":"https://static.tigerbbs.com/b9774fac6cdbae1bac77d81d9922fb02","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3570614147611531","authorIdStr":"3570614147611531"},"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/373003832","repostId":1141323038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4071115,"gmtCreate":1618805813676,"gmtModify":1635736365338,"authorId":3578446470950082,"author":{"id":3578446470950082,"idStr":"3578446470950082","authorId":3578446470950082,"name":"DukeAlan","avatar":"https://static.tigerbbs.com/5d8e6962022e3365333d669221455dd6","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":373003832,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"}],"langContent":"EN"},{"id":373009072,"gmtCreate":1618799078896,"gmtModify":1634290847113,"author":{"id":"3555328792114234","authorId":"3555328792114234","name":"Meowtato","avatar":"https://static.tigerbbs.com/9b088243bafe7a6e5f4eb9fba492b1d8","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3555328792114234","authorIdStr":"3555328792114234"},"htmlText":"How long more Will this last&nbsp;","listText":"How long more Will this last&nbsp;","text":"How long more Will this last","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/373009072","repostId":1141323038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":379782501,"gmtCreate":1618795419903,"gmtModify":1634290887984,"author":{"id":"3573384476205285","authorId":"3573384476205285","name":"7b7349c2","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3573384476205285","authorIdStr":"3573384476205285"},"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/379782501","repostId":1141323038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4069826,"gmtCreate":1618795741869,"gmtModify":1635736468193,"authorId":3576056007940397,"author":{"id":3576056007940397,"idStr":"3576056007940397","authorId":3576056007940397,"name":"8d169ad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":379782501,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"EN"},{"id":379714027,"gmtCreate":1618794913869,"gmtModify":1634290895460,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"htmlText":"Wow! Buy!","listText":"Wow! Buy!","text":"Wow! Buy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379714027","repostId":1141323038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":379715359,"gmtCreate":1618794893771,"gmtModify":1634290895817,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/379715359","repostId":1141323038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4069757,"gmtCreate":1618795429532,"gmtModify":1635736473951,"authorId":3573384476205285,"author":{"id":3573384476205285,"idStr":"3573384476205285","authorId":3573384476205285,"name":"7b7349c2","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":379715359,"type":1,"supId":0,"prevId":0,"content":"wow","text":"wow","html":"wow"},{"id":4069832,"gmtCreate":1618795750545,"gmtModify":1635736467648,"authorId":3576056007940397,"author":{"id":3576056007940397,"idStr":"3576056007940397","authorId":3576056007940397,"name":"8d169ad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":379715359,"type":1,"supId":0,"prevId":0,"content":"woww","text":"woww","html":"woww"}],"langContent":"EN"},{"id":379716605,"gmtCreate":1618794822707,"gmtModify":1634290896990,"author":{"id":"3578568049321153","authorId":"3578568049321153","name":"TaiGerGenie","avatar":"https://static.tigerbbs.com/4f7fb80ce571f502f97d061265ea3dbd","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3578568049321153","authorIdStr":"3578568049321153"},"htmlText":"The figures discussed is just unbelievable. However who would say no to business","listText":"The figures discussed is just unbelievable. However who would say no to business","text":"The figures discussed is just unbelievable. However who would say no to business","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379716605","repostId":1141323038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":21,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1141323038"}