March 31, 2021
Introduction
It is learning experience for me as well. I like to figure out that those people hedging on stocks, borrow hundreds of billion dollars in order to manipulate the market. As an investor, I should not care too much about market value, try to focus on intrinsic value and wait those big gamblers settle down.
Archegos family group
Here is the article.
- Lightly regulated family offices could be a problem for the U.S. financial industry, said Thomas Gorman, a former counsel at the Securities and Exchanges Commission.
- Risks posed by large family offices came under the spotlight after Archegos was forced to unwind more than $20 billion in trades in certain stocks including media giants ViacomCBS and Discovery.
- Amy Lynch, a former SEC regulator, warned that the Archegos episode may not be an isolated event.
Family offices have grown in the U.S., but that segment remains lightly regulated — and that could be a problem for the financial industry, warned a former counsel at the Securities and Exchanges Commission.
The risks posed by large family offices came under the spotlight after the multibillion-dollar Archegos Capital Management was last week forced to unwind more than $20 billion in trades.
The move led to a severe sell-off in certain stocks including U.S. media giants ViacomCBS and Discovery, rattling the broader market. Shares of several big banks said to be involved in the trades also saw their own stocks tank.
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