Archegos Capital Management's spectacular failure over a couple of days in March has cost Wall Street's biggest banks billions of dollars. So far, the losses are being chalked up to one bad apple: the fund's founder, Bill Hwang. Mr Hwang's record-breaking loss of an estimated $20 billion fortune in two days is a cautionary tale. But this is not only about how far any one investor may fall during a historic bull market. The cascade of consequences was limited to a few large firms. But what about next time?
Host Mustafa Alrawi and co-host Kelsey Warner unpack the terms and market dynamics that brought down a whale and ponder the implications of shrugging off a scandal.
In this episode: Why are people talking about Archegos? (0m 46s) Bill Hwang's sophisticated financial instruments (4m 05s) Warnings for Wall Street (8m 18s) Read more on our website:
• US stock market bulls will crush the bears – again
• UK Chancellor Rishi Sunak told David Cameron he 'pushed the team' over Greensil
• Credit Suisse to write down $4.7bn after Archegos implosion
• Global banks brace for Archegos fallout as they may lose more than $6bn
Pathaan
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
SUZUME
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SPECS
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Company%C2%A0profile
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Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
MATCH INFO
England 19 (Try: Tuilagi; Cons: Farrell; Pens: Ford (4)
New Zealand 7 (Try: Savea; Con: Mo'unga)
