Archegos, George Soros

Soros buys stocks linked to Bill Hwang's Archegos collapse - Bloomberg News

Soros buys stocks linked to Bill Hwang's Archegos collapse - Bloomberg News

16/5/2021 3:11:00 AM
Archegos, George Soros, Bill Hwang, Stock

Soros buys stocks linked to Bill Hwang 's Archegos collapse - Bloomberg News

Billionaire George Soros ' investment firm, Soros Fund Management bought shares of ViacomCBS Inc, Discovery Inc and Baidu Inc as they were being ...

BusinessBillionaire George Soros' investment firm, Soros Fund Management bought shares of ViacomCBS Inc, Discovery Inc and Baidu Inc as they were being sold off during the meltdown of Bill Hwang's Archegos Capital Management, Bloomberg News reported on Saturday.

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FILE PHOTO: Billionaire investor George Soros speaks to the audience at the Schumpeter Award in Vienna, Austria June 21, 2019. REUTERS/Lisi Niesner16 May 2021 07:45AMShare this contentBookmarkREUTERS: Billionaire George Soros' investment firm, Soros Fund Management bought shares of ViacomCBS Inc, Discovery Inc and Baidu Inc as they were being sold off during the meltdown of Bill Hwang's Archegos Capital Management, Bloomberg News reported on Saturday.

The fund bought US$194 million of ViacomCBS, Baidu stock valued at US$77 million, as well US$46 million of Vipshop Holdings Ltd and US$34 million of Tencent Music Entertainment Group during the first quarter, the report said https://bloom.bg/2RUQQJZ citing a regulatory filing released on Friday. headtopics.com

AdvertisementAdvertisementThe company didn't hold the shares prior to Archegos's implosion, a person familiar with the fund's trading told Bloomberg.Archegos, a family office run by ex-Tiger Asia manager Bill Hwang was highly exposed to ViacomCBS, whose shares plunged in March, leaving the hedge fund facing a massive margin call from its prime broker banks. Archegos was unable to meet the call to secure the equity swap trades that the banks had partly financed.

Global banks lost nearly US$10 billion from the Archegos fallout. Credit Suisse, Nomura Holdings and Morgan Stanley were some of the banks that were hit.(Reporting by Radhika Anilkumar in Bengaluru; Editing by Aurora Ellis) Read more: CNA »

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Soros buys stocks linked to Bill Hwang's Archegos collapse: ReportBillionaire George Soros ' investment firm, Soros Fund Management bought shares of ViacomCBS, Discovery and Baidu as they were being sold off ...

Soros buys stocks linked to Bill Hwang's Archegos collapse: ReportBillionaire George Soros ' investment firm, Soros Fund Management bought shares of ViacomCBS, Discovery and Baidu as they were being sold off ...

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US stocks surge in recovery; dollar, bond yields dipNEW YORK :U.S. stocks rallied in a sharp rebound on Friday as investors set aside inflation worries and bought shares hammered by the week's ...