Stay updated with breaking news from Doug birdsall. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
US evangelical leaders and thousands of Copts honor an Orthodox priest whose cave church complex chiseled the glory of God into Egypt’s “Garbage City.”
Before he lost US$20 billion, Bill Hwang was the greatest trader you had never heard of Trader Bill Hwang. Photo: Bloomberg / Emile Wamsteker Before he lost it all - all US$20 billion - Bill Hwang was the greatest trader you had never heard of. Starting in 2013, the Korean-American investor parlayed more than US$200 million left over from his closed hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have stood out among the world's billionaires. There are richer men and women, of course, but their money is mostly tied up in businesses, property, complex investments, sports teams and artwork. Hwang's US$20 billion net worth was mostly liquid. And then, in two short days, it was gone.
Bill Hwang Had $20 Billion, Then Lost It All In Two Days ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.
With the sun rising outside their conference room in Midtown Manhattan, the visitors to a secretive investment empire bent their heads in prayerful meditation. It was another Friday morning, 7 o’clock, and a familiar scene was unfolding again inside Archegos Capital Management, an obscure family office that would go on to shake the financial world. In the days before the pandemic, 20 or 30 people would squeeze together around the long table and, over coffee and Danishes, listen to recordings of the Bible, according to people who were there. First might come the Old Testament, perhaps Isaiah or Lamentations. Then came the New, the Gospels, which called out to the listeners drawn from a path known more for its earthly greed than its godly faith: Wall Street.