It kinda is for real. Nothing new under the sun right? Both, but you know damn well who went first. But with that said... Rise up Gather 'round Rock this place down to the ground Burn em up Lets go for broke. Watch the night go up in smoke. ... rock on.
Can you imagine losing $30 Billion like Hwang did? I hope Kathy Wood saved him a spot since he enabled her a little.
Not sure when you were born. But LTCM lost $4.6BB in 1998. That would be much more in today's money. So anyone can happen. No. Ms. Wood can't save Mr. Hwang since Hwang has been banned in security industry with any capacity. He even lost his church's money. Do not know what he is doing now. No prime brokers want to do any business with him now.
I remember LTCM, losing Bill’s churches money is gonna be Hell! You remember Victor Neid or as others here called him “The Blow Up Artist”. I enjoyed his books, he had a great track record until it failed. I read he got some modest funding a few times after, was more mercy shown prior to 2001 versus now? Victors first book was entertaining, his second read like “Tuesday with Morrey” or “The Last Lecture”. Active Trader dumped him after a few articles. I wonder if he made his money back?
i suspect that when he dies it will come out quietly that he has left his family with millions in debts.