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+--- Thread: Losing your $10b Fortune! (/showthread.php?tid=6147064)
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Losing your $10b Fortune! - Omniscient - Mar 30, 2021
https://finance.yahoo.com/news/one-world-greatest-hidden-fortunes-002617417.html
Quote:Hwang and his private investment firm, Archegos Capital Management, are now at the center of one of the biggest margin calls of all time -- a multibillion-dollar fiasco involving secretive market bets that were dangerously leveraged and unwound in a blink.
Read that article fully. It's an example of hubris. Even someone who amassed $10b+ in the market can lose it all with just one bad decision. Playing the margin game is dangerous. He leveraged it all and now it's all gone. I'm just glad it's his personal wealth and not the general public.
RE: Losing your $10b Fortune! - 4158996621556 - Mar 30, 2021
hubris at it's full extent, but he did reach that kind of money with that kind of leverage in the first place
$1.5 bill to $5 bill in 2020
then 3x'd in 2021
he didn't know when to stop.
what the hell CAN'T you buy when you have $15 billion?
RE: Losing your $10b Fortune! - Cooldudex - Mar 30, 2021
(Mar 30, 2021 08:48 AM)HackingDoge Wrote: hubris at it's full extent, but he did reach that kind of money with that kind of leverage in the first place
$1.5 bill to $5 bill in 2020
then 3x'd in 2021
he didn't know when to stop.
what the hell CAN'T you buy when you have $15 billion?
Brain cells my boy.. brain cells.
RE: Losing your $10b Fortune! - LSD - Mar 30, 2021
One of the Laws of Gold states:
"Gold flees from the man who would expect of it an unreasonable return."
RE: Losing your $10b Fortune! - Zoomers - Mar 30, 2021
(Mar 30, 2021 02:37 PM)Cooldudex Wrote: Brain cells my boy.. brain cells.
Hes a degenerate gambler, but hes probably extremely smart and enjoyed the high. “It’s not all about the money, you know,” he said in a rare interview with a Fuller
He will probably end up making it back though.
RE: Losing your $10b Fortune! - Cooldudex - Mar 30, 2021
(Mar 30, 2021 05:51 PM)Zoomers Wrote: Hes a degenerate gambler, but hes probably extremely smart and enjoyed the high. “It’s not all about the money, you know,” he said in a rare interview with a Fuller
He will probably end up making it back though.
I don't doubt it
RE: Losing your $10b Fortune! - Bovril Coin - Mar 30, 2021
news says he was trading 10b of wealth on a x5 leverage which isnt to crazy it was probly insider trading gone bad
RE: Losing your $10b Fortune! - Aeowulf - Mar 31, 2021
Wow... that's insane. Took an outsized risk... at that point why? I feel like they deserved it, but that still hurts.
RE: Losing your $10b Fortune! - Koyote - Mar 31, 2021
It just shows that you can be irresponsible and somewhat dumb at any level in life! He'll likely be fine, but yeah, what a reckless and stupid thing to have done.
RE: Losing your $10b Fortune! - Omniscient - Mar 31, 2021
Lets not feel too bad for him. Trust me that his broke ain't the same as our broke. He might only be left with $100m, his mansion, cars, and other holdings. If you have $10b and lose 99% of it, you still have $100m. For real yo.
RE: Losing your $10b Fortune! - Blazin - Mar 31, 2021
Crazy to lose that much, but it is what it is least he still has his mansion and some other shit.
RE: Losing your $10b Fortune! - Exalted - Mar 31, 2021
Big hit, but that's the risk. There's enough money left.
RE: Losing your $10b Fortune! - Jedi Tools™ - Mar 31, 2021
The addiction of leveraging will lead him to bet again. He would probably make that back again (in probably 2-3 years).
RE: Losing your $10b Fortune! - Semmenial - Mar 31, 2021
Fucking insane! Should've seen some of the downward spirals of various stocks due to this man.
RE: Losing your $10b Fortune! - Snapple Tea - Apr 2, 2021
(Mar 31, 2021 10:11 PM)Semmenial Wrote: fugging insane! Should've seen some of the downward spirals of various stocks due to this man.
Yes the liquidation was insane. The recovery's left massive opportunities though.