Hwang Flu …Stay Away From Raccoons
The markets are dealing with a new virus I call Hwang Flu.
It starts with a raccoon and is spread by the banks.
Retail investors get stuck with the medical bills.
My friend Ben Hunt has an incredible MUST read piece on the ‘hedge fund’ Archegos Capital. It will take you a few minutes but do take the time.
The scary reveal is that there is a monster amount of hedge fund and shadow banking leverage to be undone.
This bull market has been going on so long people forget that the markets are rigged and financial scammers like Bill Hwang are roaming wild with the help of the banks. In Ben Hunt speak, a raccoon is a financial scammer, a fraud.
What is Hwang Flu? Ben explains:
What do you get when you give a raccoon like Bill Hwang tens of billions of dollars AND invisibility from regulators so that he can run his collusion and insider trading schemes to his heart’s content? You get a rolling series of squeezes and corners. You get a market that is completely disconnected from reality. You get ridiculous Chinese companies pumped and dumped through US listings. You get a Tesla that’s valued at a trillion dollars. You get Gamestop.
Who is Bill Hwang?
Over the past few days you’ve probably seen an article or two about Bill Hwang and the collapse of Archegos Capital, Hwang’s hedge fund with an estimated $10-15 billion in assets that was levered up more (Read more...)