Article: How Goldman And Other Wall Street Giants Loaned Billions To Someone Who Traded Like A Meme Stock Gambler

Article - Media, Publications

How Goldman And Other Wall Street Giants Loaned Billions To Someone Who Traded Like A Meme Stock Gambler

Kevin Dowd,  29 March 2021

Imagine if Goldman Sachs GS -0.5% lent a billion dollars to RoaringKitty.

News about margin calls is once again roiling markets. Except this time, instead of industry outsiders like Robinhood and RoaringKitty, a leading GameStop bull on WallStreetBets subreddit, the drama centers on traditional giants of the financial establishment. Continue reading “Article: How Goldman And Other Wall Street Giants Loaned Billions To Someone Who Traded Like A Meme Stock Gambler”

Article: The Firm Behind The $30 Billion Firesale Shaking Financial Markets Disclosed Almost Nothing

Article - Media, Publications

The Firm Behind The $30 Billion Firesale Shaking Financial Markets Disclosed Almost Nothing

Antoine Gara,  28 March 2021

Up until recently, the website of Archegos Capital Management, the firm behind a reported $30 billion financial firesale that is battering stocks worldwide, contained a giant image of Central Park. The vista displayed on Archegos’ webpage was a fitting homage to the views of its offices atop a Manhattan skyscraper on 57th street, until the site was taken down as the firm gets liquidated.

Archegos was a giant in U.S. financial markets, apparently holding tens of billions of dollars in securities, including massive exposures to companies like ViacomCBS, Discovery Communications and Baidu. It traded with Wall Street’s largest brokerages, and was headquartered at an expensive address housing many powerhouse investment firms. But when it came to routine financial disclosures, Archegos was virtually non-existent.

Forbes searched for a trace of Archegos on the Securities and Exchange Commission’s repository for securities filings, called EDGAR, short for Electronic Data Gathering, Analysis, and Retrieval. Amazingly, almost nothing came up. Continue reading “Article: The Firm Behind The $30 Billion Firesale Shaking Financial Markets Disclosed Almost Nothing”

Article: ‘Naked’ short selling is center of looming legal battle

Uncategorized

‘Naked’ short selling is center of looming legal battle

Companies on the defensive seize upon an aggressive form of shorting

Alistair Barr

MarketWatch, 14 June 2006

By one contentious estimate, it’s a big problem plaguing more than 10% of stocks on the New York Stock Exchange and Nasdaq. An NYSE probe into whether naked shorting was used to force down shares of Vonage Holdings Corp. VG, +3.53% lower during the Internet phone company’s May initial public offering has added fuel to the fire. See full story.

Continue reading “Article: ‘Naked’ short selling is center of looming legal battle”