Bill Hwang Had $20 Billion, Then Lost It All in Two Days
The fast rise and even faster fall of a trader who bet big with borrowed money.
The fast rise and even faster fall of a trader who bet big with borrowed money.
Over the course of a few hours on April 20, a guy called Cuddles and eight of his pals from the freewheeling world of London’s commodities markets rode oil’s crash to a $660 million profit.
Liam Vaughan, Kit Chellel, Benjamin Bain Bloomberg Businessweek Dec 2020 20min Permalink
An oral history of the day oil prices went below zero for the first time in trading history.
Jessica Camille Aguirre Vanity Fair May 2020 Permalink
As it approaches a public offering, how Glencore—founded by the legendary fugitive March Rich—cornered the market for just about everything by working with dictators and spies.
Ken Silverstein Foreign Policy Apr 2012 25min Permalink
Who simultaneously did business with the U.S. government, the besieged Syrian regime, and the Libyan rebels last month? The group of 16 trading houses that collectively are “worth over a trillion dollars in annual revenue and control more than half the world’s freely traded commodities.”
Joshua Schneyer Reuters Oct 2011 35min Permalink