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Archegos Capital Management
Archegos Capital Management was a limited partnership family office that managed the personal assets of Bill Hwang, at one time managing over $36 billion in assets. On April 27, 2022, Hwang was indicted and arrested on federal charges of fraud and racketeering. On March 26, 2021, Archegos defaulted on margin calls from several global investment banks, including Credit Suisse and Nomura Holdings, as well as Goldman Sachs and Morgan Stanley. The firm had large, concentrated positions in ViacomCBS, Baidu, Vipshop, Farfetch, and other companies, and the firm's use of total return swaps had helped to hide its high exposure from lending banks. Its derivative contracts "exposed the firm to severe losses when the trades went bad." The ''Wall Street Journal'' reported that Hwang lost $8billion in 10 days, while Bloomberg News reported that Hwang lost $20billion in 2 days. The fate of Archegos has been compared to the meltdown caused by Long Term Capital Management. History Formerly of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Farfetch
Farfetch is a British e-commerce company focused on luxury clothing and beauty products. It operates as a digital marketplace that sells products from several hundred brands, boutiques and department stores from around the world. In January 2024, the company was acquired by Coupang. History Farfetch was founded in June 2007 by Portuguese businessman José Neves as a marketplace for high-end fashion. The company was based in London and had a launch team of 5 people. Initially registered as Far-fetch.com Ltd from 2007- 2010, then Farfetch.com Ltd from 2010 - 2013, the company's idea was to connect small offline fashion boutiques with a global customer base using technology. In 2015, Farfetch announced its acquisition of one of the boutiques in its network, London high end retailer Browns. According to Neves, the aim was a closer integration of online and offline shopping in a "seamless experience". In June 2017, Farfetch acquired fashion e-commerce website Style.com from Cond ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Bank
Deutsche Bank AG (, ) is a Germany, German multinational Investment banking, investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange. Deutsche Bank was founded in 1870 in Berlin. From 1929 to 1937, following its merger with Disconto-Gesellschaft, it was known as ''Deutsche Bank und Disconto-Gesellschaft'' or DeDi-Bank. Other transformative acquisitions have included those of Mendelssohn & Co. in 1938, Morgan, Grenfell & Company, Morgan Grenfell in 1990, Bankers Trust in 1998, and Deutsche Postbank in 2010. As of 2018, the bank's network spanned 58 countries with a large presence in Europe, the Americas, and Asia. It is a component of the DAX stock market index and is often referred to as the List of banks in Germany, largest German banking institution, with Deutsche Bank holding the majority stake in DWS Group for combined assets of 2.2 trillion euros, rivaling even Spa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discovery, Inc
Discovery, Inc. was an American multinational mass media factual television conglomerate based in New York City. Established in 1982, the company operated a group of factual and lifestyle television brands, such as the namesake Discovery Channel, Animal Planet, Science Channel, and TLC. In 2018, the company acquired Scripps Networks Interactive, adding networks such as Food Network, HGTV, and Travel Channel to its portfolio. Since the purchase, Discovery described itself as serving members of "passionate" audiences, and also placed a focus on streaming services built around its properties. Discovery owned or had interests in local versions of its channel brands in international markets, in addition to its other major regional operations such as Eurosport (a pan-European group of sports channels, most prominently the rightsholder of the Olympic Games throughout most of Europe), GolfTV (an international golf-focused streaming service, which is the international digital rightsho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock
Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets (after discharge of all Seniority (financial), senior claims such as secured and unsecured debt), or Voting interest, voting power, often dividing these up in proportion to the number of like shares each stockholder owns. Not all stock is necessarily equal, as certain classes of stock may be issued, for example, without voting rights, with enhanced voting rights, or with a certain priority to receive profits or liquidation proceeds before or after other classes of Shareholder, shareholders. Stock can be bought and sold over-the-counter (finance), privately or on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Brokerage
Prime brokerage is the generic term for a bundled package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return. The prime broker provides a centralized securities clearing facility for the hedge fund so the hedge fund's collateral requirements are netted across all deals handled by the prime broker. These two features are advantageous to their clients. The prime broker benefits by earning fees ("spreads") on financing the client's margined long and short cash and security positions, and by charging, in some cases, fees for clearing and other services. It also sets off its funding costs by rehypothecating the margined portfolios of the hedge funds currently serviced and charging interest on those borrowing securities and other investments. Services Each client in the market of a prime broker will ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Leverage
In finance, leverage, also known as gearing, is any technique involving borrowing funds to buy an investment. Financial leverage is named after a lever in physics, which amplifies a small input force into a greater output force. Financial leverage uses borrowed money to augment the available capital, thus increasing the funds available for (perhaps risky) investment. If successful this may generate large amounts of profit. However, if unsuccessful, there is a risk of not being able to pay back the borrowed money. Normally, a lender will set a limit on how much risk it is prepared to take, and will set a limit on how much leverage it will permit. It would often require the acquired asset to be provided as collateral security for the loan. Leverage can arise in a number of situations. Securities like options and futures are effectively leveraged bets between parties where the principal is implicitly borrowed and lent at interest rates of very short treasury bills.Mock, E. J., R. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Return Swaps
In finance, a total return swap (TRS), total rate of return swap (TRORS), or cash-settled equity swap is a financial contract that transfers both the credit risk and market risk of an underlying asset. Contract definition A swap agreement in which one party makes payments based on a set rate, either fixed or variable, while the other party makes payments based on the return of an underlying asset, which includes both the income it generates and any capital gains. In total return swaps, the underlying asset, referred to as the reference asset, is usually an equity index, loans, or bonds. This is owned by the party receiving the set rate payment. Total return swaps allow the party receiving the total return to gain exposure and benefit from a reference asset without actually having to own it. These swaps are popular with hedge funds because they get the benefit of a large exposure with a minimal cash outlay. In a total return swap, an investment bank could buy assets for a hed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insider Trading
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information are illegal. The rationale for this prohibition of insider trading differs between countries and regions. Some view it as unfair to other investors in the market who do not have access to the information, as the investor with inside information could potentially make larger profits than an investor without such information. However, insider trading is also prohibited to prevent the director of a company (the insider) from abusing a company's confidential information for the director's personal gain. The rules governing insider trading are complex and vary significantly from country to country as does the extent of enforcement. The definition of insider in one jurisdiction can be broad and may cover not only insiders themselves but also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greek Language
Greek (, ; , ) is an Indo-European languages, Indo-European language, constituting an independent Hellenic languages, Hellenic branch within the Indo-European language family. It is native to Greece, Cyprus, Italy (in Calabria and Salento), southern Albania, and other regions of the Balkans, Caucasus, the Black Sea coast, Asia Minor, and the Eastern Mediterranean. It has the list of languages by first written accounts, longest documented history of any Indo-European language, spanning at least 3,400 years of written records. Its writing system is the Greek alphabet, which has been used for approximately 2,800 years; previously, Greek was recorded in writing systems such as Linear B and the Cypriot syllabary. The Greek language holds a very important place in the history of the Western world. Beginning with the epics of Homer, ancient Greek literature includes many works of lasting importance in the European canon. Greek is also the language in which many of the foundational texts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Tiger Cubs (finance)
A list is a set of discrete items of information collected and set forth in some format for utility, entertainment, or other purposes. A list may be memorialized in any number of ways, including existing only in the mind of the list-maker, but lists are frequently written down on paper, or maintained electronically. Lists are "most frequently a tool", and "one does not ''read'' but only ''uses'' a list: one looks up the relevant information in it, but usually does not need to deal with it as a whole".Lucie Doležalová,The Potential and Limitations of Studying Lists, in Lucie Doležalová, ed., ''The Charm of a List: From the Sumerians to Computerised Data Processing'' (2009). Purpose It has been observed that, with a few exceptions, "the scholarship on lists remains fragmented". David Wallechinsky, a co-author of '' The Book of Lists'', described the attraction of lists as being "because we live in an era of overstimulation, especially in terms of information, and lists help us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a highly leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York. LTCM was founded in 1994 by John Meriwether, the former vice-chairman and head of bond trading at Salomon Brothers. Members of LTCM's board of directors included Myron Scholes and Robert C. Merton, who three years later in 1997 shared the Nobel Prize in Economics for having developed the Black–Scholes model of financial dynamics.''A financial History of the United States Volume II: 1970–2001'', Jerry W. Markham, Chapter 5: "Bank Consolidation", M. E. Sharpe, Inc., 2002 LTCM was initially successful, with annualized returns (after fees) of around 21% in its first year, 43% in its second year and 41% in its third year. However, in 1998 it lost $4.6 billion in less than four months due to a combination of high leverage and exposure to the 1997 Asian financi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
