https://www.google.com/amp/s/financ...tiger-cub-archegos-liquidation-015109185.html The selling was ferocious, like a Reverse GME!
Seeking has more details, “ reportedly focused on tech companies, may have been precipitated by a margin call that the fund received from an investment bank that couldn't be met, IPO Edge said, citing one person familiar. Hwang formerly ran Tiger Asia Management, a spin off from hedge fund legend Julian Robertson's Tiger Management. Hwang didn't respond to Seeking Apha and IPO Edge requests for comment. A lawyer for Hwang wasn't immediately available to comment when reached by Seeking Alpha. So called Tiger cubs are funds that are typically run by traders that have been trained by Tiger's Robertson. Yesterday morning there were also large blocks being offered in Chinese tech stocks Baidu (NASDAQ:BIDU), Tencent Music (NYSE:TME) and Vipshop (NYSE:VIPS)through Goldman, according to Bloomberg.
Can't make this up... Hookers and crypto chicas nowadays reporting on hedge fund blowups. Laughing my ass off.
Algo trader comment from Twitter-Linked is interesting. For weeks I was searching why Disca and VIAC would not stop. Algo guy: “I am trying to explain to my algos not to buy more of Discovery Inc. (ticker: DISCA). The price trajectory of this stock plus the combination of features makes it like a jail bait for any greedy algorithm[1]... and I am absolutely sure my algos even with their NLP modules being developed have no knowledge of the G.Gekko speach... [1] A greedy algorithm is any algorithm that follows the problem-solving heuristic of making the locally optimal choice at each stage”.
Large trends are not powered by greedy algorithms but my market sentiment, fundamental and pricing factors. Greedy algorithms operate in micro space in intraday trading and it is one of the many approaches in the arsenal of an algorithmic trader.