NDAQ:PARA - Post Discussion
Post by
AwareInvestor on Apr 12, 2021 1:37pm
Tensegrity: How the Archegos Tower was Built
Last Week in Bill Hwang saw the head of investment banking and the Chief Risk Manager getting the axe at Credit Suisse, and Bloomberg finishing up its wall-to-wall coverage of the hedge fund collapse heard around the world with a sensational Businessweek cover story about “Bill Hwang Had $20 Billion, Then Lost It All in Two Days.” It tells the story of a devout Christian whose faith led him into a high-leverage long-short hedge fund that did away with the hedge part, and whose bankers implored him to unwind his leverage, only to be ignored.
The Bloomberg Team, faced with the impossibility of reporting out a story about a top secret hedge fund that sent its bankers to the bath on its way out, might have set some sort of record for anonymously sourced information that is, by its very nature, unverifiable. As well-written and compelling as the Bloomberg coverage is, it’s hard not to wonder if it’s the worst kind of access journalism; a publication being played by its sources to set a narrative. We’re careful here not to accuse Bloomberg of changing or distorting the narrative, because everything in this story is plausible.
https://thedeepdive.ca/tensegrity-how-the-archegos-tower-was-built/
Be the first to comment on this post