‘Groundhog Day’ Trading Built Risk at Archegos, Key Witness Says

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Once Archegos Capital Management founder Bill Hwang decided on a trade, he did it again. And again. And again. Senior staffers reacted by greeting each other with “Happy Groundhog Day,” a reference to the classic Bill Murray time-loop comedy.

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Bill Hwang’s trial begins over collapse of his US$36-billion Archegos fundThe trial is expected to last up to eight weeks and will delve into the implosion of Hwang’s lightly regulated family investment office, which prosecutors allege caused more than $100-billion in shareholder losses
Source: globeandmail - 🏆 5. / 92 Read more »