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Bill Hwang
Sung Kook Hwang (Korean: 황성국), also known as Bill Hwang, is a Korean-born American investor and trader. In April 2021, ''The Wall Street Journal'' reported that Hwang lost US$20billion over 10 days in late March, imposing large losses on his bankers Nomura and Credit Suisse. On April 27, 2022, he was indicted on federal charges of fraud and racketeering. Early life Hwang was born in South Korea in 1964. Hwang earned an economics degree from UCLA, and an MBA from the Tepper School of Business at Carnegie Mellon University. Career Hwang began his career at Hyundai Securities in New York, then worked at the now defunct Peregrine Investments Holdings, where he met billionaire hedge fund manager Julian Robertson, who was a client, and went to work for Robertson's Tiger Management. Robertson closed the fund in 2000 but, during his time as its owner, he'd provided some of whom he considered to be his most promising employees, known as the “Tiger Cubs”, with fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Huang
Bill Huang () is a Chinese serial entrepreneur. He was the leader in China Mobile Research Institution in 2007. In 2015, Huang founded CloudMinds Inc. Life and career Bill Huang graduated from Huazhong University of Science & Technology with a bachelor's degree in Electrical Engineering. After 2 years studying at the University of Illinois, he received master's degree in Electrical Engineering and Computer Science. Huang entered Bell Laboratories to work on researches in Asynchronous Transfer Mode in 1990. In 1994, he joined Unitech Telecom and became the co-founder of UTStarcom, UTStarcom Holdings Corp. a year later. After that, Huang developed the operating system WACOS. In 1996, Huang put forward the "Network is the Switch" soft switch concept. That same year, he co-established the International Soft switch Consortium (ISC) and developed the first mobile soft switch system in the world and the first carrier-class streaming media exchange and IPTV system. With the aim to bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tepper School Of Business
The Tepper School of Business is the business school of Carnegie Mellon University. It is located in the university's campus in Pittsburgh, Pennsylvania, US. The school offers degrees from the undergraduate through doctoral levels, in addition to executive education programs. The Tepper School of Business, originally known as the Graduate School of Industrial Administration (GSIA), was founded in 1949 by William Larimer Mellon. In March 2004, the school received a record $55 million gift from alumnus David Tepper and was renamed the "David A. Tepper School of Business at Carnegie Mellon". A number of Nobel Prize–winning economists have been affiliated with the school, including Herbert A. Simon, Franco Modigliani, Merton Miller, Robert Lucas, Edward Prescott, Finn Kydland, Oliver Williamson, Dale Mortensen, and Lars Peter Hansen. History In 1946, economist George Leland Bach was hired by the Carnegie Institute of Technology (predecessor of Carnegie Mellon University) to re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlement (litigation)
In law, a settlement is a resolution between disputing parties about a legal case, reached either before or after court action begins. A collective settlement is a settlement of multiple similar legal cases. The term also has other meanings in the context of law. Structured settlements provide for future periodic payments, instead of a one time cash payment. Basis A settlement, as well as dealing with the dispute between the parties is a contract between those parties, and is one possible (and common) result when parties sue (or contemplate so doing) each other in civil proceedings. The plaintiffs and defendants identified in the lawsuit can end the dispute between themselves without a trial. The contract is based upon the bargain that a party forgoes its ability to sue (if it has not sued already), or to continue with the claim (if the plaintiff has sued), in return for the certainty written into the settlement. The courts will enforce the settlement. If it is breached, the par ... [...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 is illegal. This is because it is seen as unfair to other investors who do not have access to the information, as the investor with insider information could potentially make larger profits than a typical investor could make. The rules governing insider trading are complex and vary significantly from country to country. The extent of enforcement also varies from one country to another. The definition of insider in one jurisdiction can be broad, and may cover not only insiders themselves but also any persons related to them, such as brokers, associates, and even family members. A person who becomes aware of non-public information and trades on that basis may be guilty of a crime. Trading by specific insiders, such as employees, is commonl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tiger Asia 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 assests. 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. History Formerly of Tiger Asia Management, Hwang created the Archegos family office in 2013, which had $10 billion un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yahoo!
Yahoo! (, styled yahoo''!'' in its logo) is an American web services provider. It is headquartered in Sunnyvale, California and operated by the namesake company Yahoo Inc., which is 90% owned by investment funds managed by Apollo Global Management and 10% by Verizon Communications. It provides a web portal, search engine Yahoo Search, and related services, including My Yahoo!, Yahoo Mail, Yahoo News, Yahoo Finance, Yahoo Sports and its advertising platform, Yahoo! Native. Yahoo was established by Jerry Yang and David Filo in January 1994 and was one of the pioneers of the early Internet era in the 1990s. However, usage declined in the late 2000s as some services discontinued and it lost market share to Facebook and Google. History Founding In January 1994, Yang and Filo were electrical engineering graduate students at Stanford University, when they created a website named "Jerry and David's guide to the World Wide Web". The site was a human-edited web directory, or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tiger Management
Tiger Management Corp., also known as "The Tiger Fund", is an American hedge fund and family office founded by Julian Robertson. The fund began investing in 1980 and closed in March 2000/01. It continues to operate today in direct public equity investments and seeding new investment funds. History Julian Robertson, a stockbroker and former United States Navy officer, started Tiger Management in 1980 with $8 million in capital. By 1996, the fund’s assets had increased to $7.2 billion in value. and On April 1, 1996 ''BusinessWeek'' carried a cover story written by reporter Gary Weiss, called "Fall of the Wizard", that was critical of Robertson's performance and behavior as founder and manager of Tiger Management. Robertson subsequently sued Weiss and ''BusinessWeek'' for $1 billion for defamation. The suit was settled with no money changing hands and ''BusinessWeek'' standing by the substance of its reporting. With $10.5 billion of assets under management in 1997, it was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Julian Robertson
Julian Hart Robertson Jr. (June 25, 1932 – August 23, 2022) was an American billionaire hedge fund manager, and philanthropist. Robertson founded Tiger Management, one of the first hedge funds, in 1980. From its inception in 1980 to its 1998 asset peak, his fund returned 31.7% per year after fees, compared to a 12.7% annual return from the S&P 500 over the same period. However, a sharp decline thereafter led to the fund closing in March 2000. Tiger showed losses in only four of its 21 years. Robertson later mentored and provided seed funding to many notable hedge fund managers, known as the ''Tiger cubs'', including Ole Andreas Halvorsen, Stephen Mandel of Lone Pine Capital, Lee Ainslie of Maverick Capital, Bill Hwang, and Chase Coleman III. During his lifetime, Robertson contributed more than US$2 billion to charity. He was also a signatory to The Giving Pledge. At the time of his death, his net worth was estimated at $4.8 billion. Early life and education R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge Fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and accredited investors. Hedge funds are considered alternative investments. Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, commonly known as mutual funds and ETFs. They are also considered distinct from private equity funds and other similar closed-end funds as hedge funds generally invest in relatively liquid assets and are usually open-ended. This means they typically allow investors to invest and withdraw capital periodically based on the fund's net asset value, whereas pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peregrine Investments Holdings
Peregrine (including Peregrine Investments Holdings Limited and Peregrine Infrastructure Investments Limited) was an investment company based in Hong Kong. It was liquidated following the downturn of the Indonesian economy during the Asian financial crisis, and was acquired by BNP Paribas. History The Founding of the Company Peregrine was founded in 1988 with an initial investment of $38 million by former race car driver Philip Tose and Francis Leung. They had both worked with Citibank in the past and had a large number of connections to Hong Kong's business elite including Li Ka-shing, Gordon Wu and Larry Yung. The company's goal was to profit from the expanding Asian economy by underwriting stocks and bonds to provide capital for the Asian countries, especially the East Asian Tigers.Anthony Spaeth"The Hunt Is Over" ''Time Magazine'', Asia Edition, 26 January 1998, Vol. 151, No. 3, accessed 11 August 2005 Culture The company was characterised as "arrogant", and thrived on takin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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