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“人类史上最大单日亏损”
韩国投资人Bill Hwang旗下的Archegos Capital爆仓,造成中概和美国媒体股暴跌,全球市场为之震撼。
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陈达美股投资
陈达美股投资
·
2022-05-22
关于韩国小岳岳Bill Hwang的二三事
关于大鳄Bill Hwang (韩国小岳岳):韩国小岳岳是老虎系出来的人,他主要通过自己的家族办公室基金 Archegos 来进行投资也好交易也好诈骗也好。小岳岳通过逼空跟谁学赚了很多钱,跟他一起搞的是老虎系的腾跃基金的李淘,巅峰时候他们一度持有高达70%的跟谁学的流通盘,拉爆无数做空者。他让国内许多做空跟谁学的人亏了钱。从2020年12月到2021年3月,跟谁学平均每天15%的交易量,来自于小岳岳。从2020年3月到2021年3月,一年时间,小岳岳的基金从15亿美元干到了360亿美元(估计值)。通过total return swaps(收益互换合约)放大杠杆,他的证券敞口价值高达1600亿。小岳岳和李淘在Morgan Stanley 都有大量跟谁学的swaps,Morgan Stanley 一度告知小岳岳因为单个股票上杠杆实在太大不能继续搞啦,于是小岳岳说服李淘将他的跟谁学swaps转到了其他投行。为什么在爆掉以前没人知道小岳岳的持仓呢?因为小岳岳用了swaps,所以不需要披露。因为小岳岳爆仓,SEC开始推动新规则迫使机构披露swaps持仓。不过小岳岳的基金是family office,类似于你自己管自己的钱,按理说也并不需要披露仓位。据说小岳岳操纵了11个股票,除了跟谁学之外,还有 ViacomCBS、Discovery、 爱奇艺、腾讯音乐、唯品会、百度 、Farfetch、Texas Capital Bancshares、富途 和 Rocket Companies。小岳岳的 Acchegos 巅峰期有360亿美元,但最后他为他的券商投行制造了一个100亿美元的亏损(投行需要买入股票来覆盖swap)。所以all in all小岳岳亏掉了460亿美元。也算是一台比较大型的碎钞机了。据说小岳岳选中概股有很大的算计,因为华尔街对中概股相对没那么熟悉,所以很难证明或证伪。就给股
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关于韩国小岳岳Bill Hwang的二三事
曼曼谈理财
曼曼谈理财
·
2021-04-06
史诗级爆仓Archegos,几天内损失80亿美元,拖累六家投行的Bill Hwang是何许人也?
史诗级爆仓Archegos,几天内损失80亿美元,拖累六家投行的Bill Hwang是何许人也?
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史诗级爆仓Archegos,几天内损失80亿美元,拖累六家投行的Bill Hwang是何许人也?
雄哥价值投资
雄哥价值投资
·
2021-03-31
买买买
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Alastair2021
Alastair2021
·
2021-03-31
基建利好哪些股?
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飞车手
飞车手
·
2021-03-31
666
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飞车手
飞车手
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2021-03-31
666
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Justin_L
Justin_L
·
2021-03-31
这韩国佬是个狼人。
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飘缈
飘缈
·
2021-03-31
那个老虎是不是这个老虎
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迈耀司
迈耀司
·
2021-03-31
时间错误,维亚康姆是3.23日周二宣布增发的
一文读懂Bill Hwang如何让华尔街感到恐惧
投资者Bill Hwang最近在股市掀起了一场风暴,他的公司Archegos Capital Management及其旗下银行开始清算蓝筹股公司的巨额头寸。抛售导致个股暴跌,至少有两家银行遭受重大损失
一文读懂Bill Hwang如何让华尔街感到恐惧
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Ikhas
Ikhas
·
2021-03-31
月末好文
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Ilovegrace
Ilovegrace
·
2021-03-31
叫“野村”的男人都是狠人
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De_jun
De_jun
·
2021-03-31
又出来使坏了
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日近长安远
日近长安远
·
2021-03-31
起了个dnvZagxi
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HunterRen
HunterRen
·
2021-03-31
不靠谱的IMF
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投资蹦极
投资蹦极
·
2021-03-30
机构赌徒。
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新加坡的大螃蟹
新加坡的大螃蟹
·
2021-03-30
说说你对这篇新闻的看法...
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hhyw
hhyw
·
2021-03-30
平仓😑😑😑😑
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尼克欢
尼克欢
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2021-03-30
买!
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磐石533
磐石533
·
2021-03-30
链式反应
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rocat
rocat
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2021-03-30
Wa
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Buffett)在2003年致投资者的信中提到了互换的风险。</p>\n<p>互换交易允许投资者只预先投入有限的资金,从而扩大对股票的投资规模。当相关投资出现问题时,银行代表投资者出售所持股票。这种抛售强化了股价的下跌,这有助于解释为什么Archegos投资的股票下跌如此之快。</p>\n<p>Hwang的投资策略在最近几周“着火”。其持有的一些公司股价从2月开始大幅上涨, 但在3月中旬股价下跌。据知情人士透露,维亚康姆哥伦比亚广播公司(ViacomCBS) 3月22日宣布出售普通股,这给Archegos带来了进一步的压力。该交易的消息导致该公司股价下跌,加剧了其不断增加的亏损。到那时,该基金已开始出售其在ViacomCBS的部分头寸,试图抵消亏损,这加大了该股的压力。</p>\n<p>但一旦股价开始下跌,和其基金相关的一些银行就开始在市场上出售大量股票,这就是所谓的大宗交易。大宗交易是指出售一家公司的大量股份,这些交易通常以低于当前股价的价格进行,因为大批量交易比小额交易更难找到买家。</p>\n<p>主经济商业务是华尔街银行中为对冲基金提供服务的部门。机构经纪商帮助对冲基金进行交易,并以保证金贷款的形式向它们提供资金。Archegos聘请了至少六家机构经纪商,包括<a href=\"https://laohu8.com/S/CS\">瑞士信贷</a>集团(Credit Suisse Group AG)、<a href=\"https://laohu8.com/S/UBS\">瑞银</a>集团(UBS Group AG)、高盛集团(Goldman Sachs Group Inc.)、<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>(<a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>)、<a href=\"https://laohu8.com/S/DB\">德意志银行</a>(Deutsche Bank AG)和<a href=\"https://laohu8.com/S/NMR\">野村控股</a>(Nomura Holdings Inc.)。</p>\n<p>SEC前律师Mark Berman表示,监管机构将不仅关注华尔街机构经纪商是如何允许Archegos建立如此高杠杆头寸的,还将关注银行在信贷谈判和风险管理方面的集体做法。他表示,监管机构的重点不应该是让家族理财室介入,只需要解释这一点,并将其与Archegos联系到SEC的管辖范围内,而应该是关注投资银行等受监管实体的风险报告。</p>\n<p>三菱UFJ证券控股有限公司(MitsubishiUFJ Securities Holdings Co.,)周二说,它可能因与美国客户的交易而蒙受约3亿美元的损失。该公司没有透露客户的名字。GAM Investments的投资总监查尔斯•赫普沃思(Charles Hepworth)说,“很多人都在试图想知道谁将成为下一个热门,哪家投资银行将成为下一个热门。”“它看起来不像是系统性的,因此希望这已得到控制,而不是某种雷曼时刻。”</p>","collect":0,"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>一文读懂Bill Hwang如何让华尔街感到恐惧</title>\n<style 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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\">\n一文读懂Bill Hwang如何让华尔街感到恐惧\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/99\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Wind万得 </p>\n<p class=\"h-time\">2021-03-31 06:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>投资者Bill Hwang最近在股市掀起了一场风暴,他的公司Archegos Capital Management及其旗下银行开始清算蓝筹股公司的巨额头寸。抛售导致个股暴跌,至少有两家银行遭受重大损失。</p>\n<p>该公司称自己专注于美国、日本、韩国和欧洲等上市公司。交易员说,近几个月来,它在ViacomCBS Inc.和DiscoveryInc.股价的强劲上涨和随后的下跌中发挥了一定作用。</p>\n<p>据熟悉该基金的人士透露,据估计,该基金管理着约100亿美元的自有资金。但得益于从银行获得的杠杆,该公司周四和周五平仓的总头寸接近300亿美元。外界并不知道该公司管理的外部资本。</p>\n<p>Archegos在公司持有大量、集中的头寸,并通过所谓的“总回报互换”(totalreturn swaps)来持有一些头寸。这些合约是由华尔街银行撮合的,允许用户承担股票或其他资产组合的盈亏,并收取一定费用。</p>\n<p>掉期交易允许投资者在预先投入有限资金的情况下建立巨额头寸,本质上是向银行借款。利用掉期交易,Bill Hwang得以保持匿名,据估计,Archegos对多家公司的股票有超过10%的经济风险敞口。持有一家公司证券超过10%的投资者被视为公司内部人士,并受到有关披露和利润的额外监管。</p>\n<p>互换很常见,而且已经存在了很长一段时间。它们也是有争议的。由两位诺贝尔奖得主担任顾问的对冲基金长期资本管理公司(Long Term Capital Management)就使用了掉期交易。沃伦•巴菲特(Warren Buffett)在2003年致投资者的信中提到了互换的风险。</p>\n<p>互换交易允许投资者只预先投入有限的资金,从而扩大对股票的投资规模。当相关投资出现问题时,银行代表投资者出售所持股票。这种抛售强化了股价的下跌,这有助于解释为什么Archegos投资的股票下跌如此之快。</p>\n<p>Hwang的投资策略在最近几周“着火”。其持有的一些公司股价从2月开始大幅上涨, 但在3月中旬股价下跌。据知情人士透露,维亚康姆哥伦比亚广播公司(ViacomCBS) 3月22日宣布出售普通股,这给Archegos带来了进一步的压力。该交易的消息导致该公司股价下跌,加剧了其不断增加的亏损。到那时,该基金已开始出售其在ViacomCBS的部分头寸,试图抵消亏损,这加大了该股的压力。</p>\n<p>但一旦股价开始下跌,和其基金相关的一些银行就开始在市场上出售大量股票,这就是所谓的大宗交易。大宗交易是指出售一家公司的大量股份,这些交易通常以低于当前股价的价格进行,因为大批量交易比小额交易更难找到买家。</p>\n<p>主经济商业务是华尔街银行中为对冲基金提供服务的部门。机构经纪商帮助对冲基金进行交易,并以保证金贷款的形式向它们提供资金。Archegos聘请了至少六家机构经纪商,包括<a href=\"https://laohu8.com/S/CS\">瑞士信贷</a>集团(Credit Suisse Group AG)、<a href=\"https://laohu8.com/S/UBS\">瑞银</a>集团(UBS Group AG)、高盛集团(Goldman Sachs Group Inc.)、<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>(<a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>)、<a href=\"https://laohu8.com/S/DB\">德意志银行</a>(Deutsche Bank AG)和<a href=\"https://laohu8.com/S/NMR\">野村控股</a>(Nomura Holdings Inc.)。</p>\n<p>SEC前律师Mark Berman表示,监管机构将不仅关注华尔街机构经纪商是如何允许Archegos建立如此高杠杆头寸的,还将关注银行在信贷谈判和风险管理方面的集体做法。他表示,监管机构的重点不应该是让家族理财室介入,只需要解释这一点,并将其与Archegos联系到SEC的管辖范围内,而应该是关注投资银行等受监管实体的风险报告。</p>\n<p>三菱UFJ证券控股有限公司(MitsubishiUFJ Securities Holdings Co.,)周二说,它可能因与美国客户的交易而蒙受约3亿美元的损失。该公司没有透露客户的名字。GAM Investments的投资总监查尔斯•赫普沃思(Charles Hepworth)说,“很多人都在试图想知道谁将成为下一个热门,哪家投资银行将成为下一个热门。”“它看起来不像是系统性的,因此希望这已得到控制,而不是某种雷曼时刻。”</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f96fb56d18da49672c5b4102a08270d3","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180200125","content_text":"投资者Bill Hwang最近在股市掀起了一场风暴,他的公司Archegos Capital Management及其旗下银行开始清算蓝筹股公司的巨额头寸。抛售导致个股暴跌,至少有两家银行遭受重大损失。\n该公司称自己专注于美国、日本、韩国和欧洲等上市公司。交易员说,近几个月来,它在ViacomCBS Inc.和DiscoveryInc.股价的强劲上涨和随后的下跌中发挥了一定作用。\n据熟悉该基金的人士透露,据估计,该基金管理着约100亿美元的自有资金。但得益于从银行获得的杠杆,该公司周四和周五平仓的总头寸接近300亿美元。外界并不知道该公司管理的外部资本。\nArchegos在公司持有大量、集中的头寸,并通过所谓的“总回报互换”(totalreturn swaps)来持有一些头寸。这些合约是由华尔街银行撮合的,允许用户承担股票或其他资产组合的盈亏,并收取一定费用。\n掉期交易允许投资者在预先投入有限资金的情况下建立巨额头寸,本质上是向银行借款。利用掉期交易,Bill Hwang得以保持匿名,据估计,Archegos对多家公司的股票有超过10%的经济风险敞口。持有一家公司证券超过10%的投资者被视为公司内部人士,并受到有关披露和利润的额外监管。\n互换很常见,而且已经存在了很长一段时间。它们也是有争议的。由两位诺贝尔奖得主担任顾问的对冲基金长期资本管理公司(Long 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