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Before Archegos, Hwang built the New York-based hedge fund Tiger Asia Management in 2001 with the support of Robertson. The firm focused on Asian investments and became one of the best Asia-centric hedge funds, which at its peak managed over $5 billion.
In 2012, Hwang pleaded guilty to insider trading of Chinese bank stocks and agreed to pay $44 million to settle civil allegations. The Securities and Exchange Commission alleged that he used confidential information to short sell three Chinese bank stocks. After this, he shut Tiger Asia Management.
In 2013, he founded Archegos, a Greek biblical word for leader, which is a family investment vehicle with leverage-based bets on US technology growth stocks and Chinese ADRs. ....
It was a sensation and it drove the whole apple cart for disney. again, with better than expected numbers. i never understood the alice in wonderland. congress wasting no time diving in, questioning heads of the stock exchange about the 1,000 point intraday dive. wall street not celebrating the fact more regulation could be coming. this legend says we need them. vanguard group founder joining me now. john, when it comes to more regulation, you say bring them on. why? well, let me say i m struck by your comment about alice in wonderland. that s what we re dealing with the numbers with the wall street investment bankers where the numbers mean anything she says. ....