Discover and read the best of Twitter Threads about #Archegos
Most recents (7)
"Die @CreditSuisse agierte überheblich, und die Finanzmarktaufsicht #FINMA schaute viel zu lange zu."
Das sagt Monika Roth, Professorin und Finanzmarktexpertin, im @tagesanzeiger.
Die Aufsicht hätte ihrer Ansicht nach schon vor langer Zeit "energischer eingreifen müssen". (1/5)
Das sagt Monika Roth, Professorin und Finanzmarktexpertin, im @tagesanzeiger.
Die Aufsicht hätte ihrer Ansicht nach schon vor langer Zeit "energischer eingreifen müssen". (1/5)
"Spätestens bei den Spekulationen des Hedgefonds #Archegos hätte man sagen müssen: Es reicht!", betont Roth. Der Bericht, den die #CS dazu veröffentlicht habe, sei "vernichtend" gewesen: "Die FINMA hätte sagen müssen: Ihr erfüllt die Bewilligungsvoraussetzungen nicht mehr." (2/5)
"Das ist ein systemisches Versagen", meint Expertin Roth: " Niemand schrieb beispielsweise der CS zur Risikominimierung die Aufsplittung des Geschäfts vor. Niemand isolierte das Schweizer Geschäft. Niemand verlangte die Auswechslung des Verwaltungsrats." (3/5)
Two striking resemblances btw #SVB & former @CreditSuisse.
Both banks did not pay attention to the top 8–20 risks, which every board must.
Either these banks kept their risk desks understaffed or didn't hire key managerial position holders at all.
Why?
Need introspection now.
Both banks did not pay attention to the top 8–20 risks, which every board must.
Either these banks kept their risk desks understaffed or didn't hire key managerial position holders at all.
Why?
Need introspection now.
@CreditSuisse It was reported on this forum that #SVB did not have a CRO for some 8 months during the VC Market spiralling.
Also, I read just now that former @CreditSuisse was sacking key MDs in their across their risk desks.
This trend continued since the #Archegos fiasco surfaced after 2019
Also, I read just now that former @CreditSuisse was sacking key MDs in their across their risk desks.
This trend continued since the #Archegos fiasco surfaced after 2019
CRO Chief Risk Officer or Head of Risk Management is a key managerial decision-making position and C Suite Level role which every financial institution can afford to keep empty these days.
The Front, Middle, and Back Office roles form key lines of defence against top risks.
The Front, Middle, and Back Office roles form key lines of defence against top risks.
According to the complaint, once Archegos would approach 5% position in a stock, Bill Hwang would allegedly require any additional exposure be limited to total return swap to avoid any public disclosures
Between March 2020 and March 2021 Archegos’s capital increased from $1.5B to $35B
Last two years have been quite a ride for investors.
Here are some of the craziest stories of this bull market👇
Here are some of the craziest stories of this bull market👇
1. #Etherrock
You must be living under a 'rock' if you haven't heard of the entire NFT craze🤠
Aug 23, 2021: A rock jpeg that sold for $1.3 Million! And then many other rock pictures sold for over a million, highest being $2.8 MN! The buyer(s) remains anonymous.
You must be living under a 'rock' if you haven't heard of the entire NFT craze🤠
Aug 23, 2021: A rock jpeg that sold for $1.3 Million! And then many other rock pictures sold for over a million, highest being $2.8 MN! The buyer(s) remains anonymous.
2. An invisible statue was auctioned for € 18,000.
In reality, it was an empty box the artist claimed was a "space full of energy"💨
We couldn't find a picture of the statue, so here is a picture of the architect Salvatore Garau🤠
In reality, it was an empty box the artist claimed was a "space full of energy"💨
We couldn't find a picture of the statue, so here is a picture of the architect Salvatore Garau🤠
#CreditSuisse International published its annual report which contains this useful information on #Archegos:
3 lessons:
1) Addt'l 600m loss in Q2
2) Still 3% exposure!
3) Thanks to the banking surcharge, UK taxpayer providing a "tax shield" of 1.3bn$ (maybe more with new budget)
3 lessons:
1) Addt'l 600m loss in Q2
2) Still 3% exposure!
3) Thanks to the banking surcharge, UK taxpayer providing a "tax shield" of 1.3bn$ (maybe more with new budget)
Also interesting to notice that CSI didn't book the full DTA (54% by my quick calc), suggesting they won't pay any tax in the UK for more than a decade.
Final important point: 0 loss in the US, 0 loss in Switzerland, so the PRA might be the one who takes a close look at the operations and risk management.
Who wants another thread about the absurdity of risk management in the financial sector?
(The crowd goes wild, it’s #RiskManagementMonth #Archegos)
(The crowd goes wild, it’s #RiskManagementMonth #Archegos)
There is a crucial concept in risk management: a group of companies.
Because they are strongly connected, the risk of those companies is similar and highly correlated.
So you want to know if companies belong to the same group.
Because they are strongly connected, the risk of those companies is similar and highly correlated.
So you want to know if companies belong to the same group.
On apprend dans cet article de @zerohedge que #Archegos a multiplié par 5 à 8 sa mise grâce à des produits dérivés élémentaires (CFD & TRS).
La perte totale des banques impliquées risque d'être salée : jusqu'à $10/15 milliards.
Attention à l'effet domino !
zerohedge.com/markets/very-s…
La perte totale des banques impliquées risque d'être salée : jusqu'à $10/15 milliards.
Attention à l'effet domino !
zerohedge.com/markets/very-s…
On se rend compte du mensonge des banques centrales qui arrosent les marchés de monnaie d'intérêt public, en nous faisant croire que cette monnaie arroserait l'économie réelle.
Il est évident que cette monnaie nourrit la cupidité des banques et de leurs clients spéculateurs.
#BCE
Il est évident que cette monnaie nourrit la cupidité des banques et de leurs clients spéculateurs.
#BCE
Sans les banques centrales complices, le château de cartes se serait effondré depuis 2008 ! C'est la course à l'effet de levier nourri par la monnaie des banques centrales qui permet à la finance de ne pas s'effondrer.
Jusqu'au jour d'un effondrement brutal, d'un retour au réel.
Jusqu'au jour d'un effondrement brutal, d'un retour au réel.
