Omen of a financial crisis for Hong Kong?

Posted by Ed 13 days ago 
Former Tiger Bill Hwang turned his multibillion-dollar personal fortune into catfood in a matter of days, inflicting nasty bite wounds on Wall Street
In revealing his concentrated portfolio, regulators may have spotted a Lehman-shaped iceberg that will hasten the exit of Chinese securities from the US

Having never been a mega wealthy hedge fund

 manager, what motivates their excessive risk-taking to become mega-mega wealthy is all Greek to me. So, when Archegos Capital Management blew up in March, as billionaire Bill Hwang wiped out his entire fortune leaving Wall Street to clean billions of dollars of nest-egg off their faces, I really could not believe what had just happened. And Archegos Capital wasn’t even a hedge fund.

Over a thin, crispy pizza, Peter, an old friend and colleague who is far smarter than me, asked if I had looked deeply into the Archegos story. I must admit, I had not and just rolled my eyes like everyone else at the ludicrous position Wall Street had put itself in again.

But Peter’s point was that Archegos was loaded up with investments in Chinese companies that have been accused of fraud. This triggered a memory of watching a documentary called
The China Hustle
and raised the question: is this the conclusion to its unfinished story, which implied another
financial crisis
was in the making? And if so, are we about to be hit again?

But first, a little background. Bill Hwang was a product of Tiger Management, one of the largest hedge funds in New York in the late 1990s and one of the highest commission paying clients any broker could wish for. 

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