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1 hour ago, CBH1926 said:

image.jpeg.2b7db21701625579d73b7102120a56de.jpeg

There's no dip buying in this market right now. Wait for bases to form and charts to start curling. Until then, I'm mostly cash. 

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51 minutes ago, nuckin_futz said:

image.png.e623cd3f45e061a37dc85e899026def0.png

 

Hearing margin calls are the problem. VIAC same stuff.

 

Lots of Chinese names butchered BIDU, TME etc.

Woah. Viacom was 100 on Monday lol.


Worth picking up in your opinion? Or let the bloodshed continue?

 

Reading more up on it, sounds like their streaming service that was hyped turned out to be a dud? 

Edited by NucksPatsFan
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9 minutes ago, NucksPatsFan said:

Woah. Viacom was 100 on Monday lol.


Worth picking up in your opinion? Or let the bloodshed continue?

 

Reading more up on it, sounds like their streaming service that was hyped turned out to be a dud? 

Options might be the better play. Give it time to play out.

 

Support on VIAC looks to be about $50. So tough picking bottoms.

 

At least VIAC was smart and did a $2 billion offering around the high.

Edited by nuckin_futz
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1 hour ago, nuckin_futz said:

Options might be the better play. Give it time to play out.

 

Support on VIAC looks to be about $50. So tough picking bottoms.

 

At least VIAC was smart and did a $2 billion offering around the high.

Sitting at that 50.36 right now, definitely have my eyes glued to the chart now!

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5 hours ago, Lancaster said:

WeWork with a definite agreement with a SPAC (BOWX) :picard:

I never short stocks, but I'm very very tempted to short this after the ticker change.  

Yeah, this is another dud.. Not good..

 

(Random question, are you a female ?) Is that you in your picture ?! Can't quite tell what that is...

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17 minutes ago, AriGold said:

Yeah, this is another dud.. Not good..

 

(Random question, are you a female ?) Is that you in your picture ?! Can't quite tell what that is...

Dude here, lol.

Just a picture of my type of "dream girl".... but don't tell my wife that.... :ph34r:

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EXCLUSIVE: Tiger Cub Archegos Liquidation Triggers Record Crash in Discovery, ViacomCBS – Sources

  • Shares of ViacomCBS, Discovery fell as much as 35% Friday

  • Goldman Sachs offered very large block shares of ViacomCBS Friday afternoon – Sources

  • Multiple prime brokers sold shares aggressively Friday afternoon

  • Archegos typically employs high leverage on its stock positions

  • ViacomCBS earlier this week conducted large secondary offering

 

A liquidation of holdings at several major investment banks with ties to Tiger Cub Archegos Capital Management LLC contributed to an unseen daily decline Friday in shares of stocks including Discovery, Inc. and ViacomCBS Inc., according to people familiar with matter.

 

Shares of media conglomerate ViacomCBS fell 26% while Discovery dropped 27% Friday, recovering from far steeper losses. The degree of the declines was unprecedented and occurred in an otherwise orderly market.

 

Early selling came through so-called block trades from Goldman Sachs & Co., which offered over 30 million shares of ViacomCBS in midday trading. Morgan Stanley, earlier in the day, offered over 15 million shares of Discovery, according to people familiar with the matter.

 

The common thread is defunct Tiger Asia Management LLC founder Bill Hwang, who now runs Archegos Capital. His fund was and may still be an large owner of shares in both ViacomCBS and Discovery. Mr. Hwang did not respond to phone calls, emails, or Bloomberg messages sent by IPO Edge.

 

Mr. Hwang’s fund is known employing leverage, meaning it borrows to invest in more securities than it could own with its own capital. One person familiar with the matter said Mr. Hwang’s fund received a margin call from one of the investment banks – not necessarily Morgan Stanley or Goldman Sachs – and was unable to meet it. As a result, that bank and others began to liquidate stocks owned by Archegos.

 

Several other stocks swooned Friday for no apparent reason, but may be related to Mr. Hwang’s fund, which focuses on telecom, media, and technology, or TMT.

Phone calls and emails to ViacomCBS, Discovery, Goldman Sachs, and Morgan Stanley were not returned late Friday evening.

 

****************

 

One overleveraged gambling donkey blowing up. That explains why the market was not bothered by the huge declines in VIAC and DISCA. Also probably means when said gambling donkey is out (and he probably already is) they both make some nice recoveries.

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5 hours ago, nuckin_futz said:

EXCLUSIVE: Tiger Cub Archegos Liquidation Triggers Record Crash in Discovery, ViacomCBS – Sources

  • Shares of ViacomCBS, Discovery fell as much as 35% Friday

  • Goldman Sachs offered very large block shares of ViacomCBS Friday afternoon – Sources

  • Multiple prime brokers sold shares aggressively Friday afternoon

  • Archegos typically employs high leverage on its stock positions

  • ViacomCBS earlier this week conducted large secondary offering

 

A liquidation of holdings at several major investment banks with ties to Tiger Cub Archegos Capital Management LLC contributed to an unseen daily decline Friday in shares of stocks including Discovery, Inc. and ViacomCBS Inc., according to people familiar with matter.

 

Shares of media conglomerate ViacomCBS fell 26% while Discovery dropped 27% Friday, recovering from far steeper losses. The degree of the declines was unprecedented and occurred in an otherwise orderly market.

 

Early selling came through so-called block trades from Goldman Sachs & Co., which offered over 30 million shares of ViacomCBS in midday trading. Morgan Stanley, earlier in the day, offered over 15 million shares of Discovery, according to people familiar with the matter.

 

The common thread is defunct Tiger Asia Management LLC founder Bill Hwang, who now runs Archegos Capital. His fund was and may still be an large owner of shares in both ViacomCBS and Discovery. Mr. Hwang did not respond to phone calls, emails, or Bloomberg messages sent by IPO Edge.

 

Mr. Hwang’s fund is known employing leverage, meaning it borrows to invest in more securities than it could own with its own capital. One person familiar with the matter said Mr. Hwang’s fund received a margin call from one of the investment banks – not necessarily Morgan Stanley or Goldman Sachs – and was unable to meet it. As a result, that bank and others began to liquidate stocks owned by Archegos.

 

Several other stocks swooned Friday for no apparent reason, but may be related to Mr. Hwang’s fund, which focuses on telecom, media, and technology, or TMT.

Phone calls and emails to ViacomCBS, Discovery, Goldman Sachs, and Morgan Stanley were not returned late Friday evening.

 

****************

 

One overleveraged gambling donkey blowing up. That explains why the market was not bothered by the huge declines in VIAC and DISCA. Also probably means when said gambling donkey is out (and he probably already is) they both make some nice recoveries.

What did he over-leverage on?  Shorting GME recently?  lol

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Does anyone have any service recommendations? I like Y charts because it has all the info in one place and isn't 'flashy'. The problem with Ycharts is that it's $200/month. Any other recommendations?

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Archegos Capital blowup was behind Friday's wild moves

Sun 28 Mar 2021 18:03:27 GMT

 

Fund was liquidated on Friday

bill-hwang.png
 
Rumours of a fund liquidating began doing the rounds late last week and extensive reporting over the weekend confirms it.
 
Archegos Capital, run by former Tiger Management analyst Bill Hwang was behind massive selling in a handful of names, including ViacomCBS and many Chinese tech names.
 
He was forced out of a $15-$20 billion position that was leveraged to $80B, according to reports. It's one of the largest fund liquidations in years. Hwang had grown $200m of his own money to $20B using leverage but it all came crumbling down on Thursday/Friday.
 
Supposedly he grew it to $20B from $5B just this year in part due to big bets on ViacomCBS and Discovery.
 
You can see the insane move in ViacomCBS here, followed by the liquidation:
 
VIAC
 
The positions were unwound in huge block trades in Friday's pre-market and included other shares like Baidu, GSX, Tencent Music Entertainment Group and Vipshop.
 
The charts aren't a pretty picture:
TME
DISCABill Hwang
 
There's now concern about whether the moves could continue to hurt markets.
 
I believe it will be the opposite. Late on Friday, market participants figured out what was going on. In general, once the market has an idea what's happening, it's much easier to compartmentalize it. The known is much less scary than the unknown and since we know that the selling is done, it will be time to pick up all the scraps.
 
I expect all the rumoured names to bounce on Monday and the rest of the market should follow, unless worries about the Suez fiasco undermine the market.
 
*****************
 
The selling certainly looks over in BIDU and TME. Remains to be seen if there will be more forced selling in VIAC and DISCA but I kinda doubt it.
 
From what I have read Hwang was completely unhedged and hadn't taken any profit. What sort of idiot leverages up to that extent completely unhedged and doesn't take profit. What was he expecting?
Edited by nuckin_futz
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I wonder if there will be more mass sell offs once the fed reinforces the supplemental leverage ratio April 1st.  Are more margin calls to be expected?

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