A Korean top prop trader Bill Hwang was liquidated of his entire 15B position on over 80B gross notional exposure yesterday ... might be among the biggest liquidation in recent years for a Aisa prop shop
Many of his position are Chinese big tech stock like TME, BIDU, VIPS etc
And all his positions stocks hit hard yesterday. Bill started trading with his own money ~$200m after leaving Tiger Asia on 2012 and grew it to 15b before being completely wiped out (he traded Julian Roberson’s money in between and made 16m into 8b in 7yrs)
What a life.
If you are looking into building up position of $BIDU $TME $VIPS this is a pretty sweet BTD opportunity
Tbh Bill is a pure legendary degn
rarely will see someone like his size is still on such high lev without hedge reminds me of @AWice once said “linear wealth, not compounding wealth”
He will make it back I’m sure
Bill was running 5x lev at the beginning of the year on $5B, almost tripled it till March. Didn’t take any profit
until ViacomCBS and Discovery hit his book hard in mid March, margin called, and later wipe out last week (shouldn’t be 100% tho but much be super brutal)
many of the big cap Chinese tech stock IR went nuts last few days, trying to figure out what happened.
As these stocks are pretty solid fundamental buys of most firms and turned out the damage was done by one big degen 🤣
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