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On the round trip the stock was up 38.2%, you bought $3300 of stock, sold $3200, and lost your initial account balance of $100. Leverage!
The *right* way to read the FT/Bespoke chart is that there was a loss of about $22 billion (not totally accurate, but ballpark if you think Archegos lost $15 billion and banks lost $7 billion) and around $88 billion of stock sold (not far off the $85 billion estimates)
Any mocking should be reserved for @Fxhedgers and anyone who uncritically retweeted their 'story'. Fin!
I wonder if Hwang is personally liable for these losses. Is it possible banks could lose $7B due to bankruptcy of Archegos but he's still a very rich man? Amazing how skewed the risk/return was - lenders lost half of what Hwang lost in downside, but upside was almost 100% his!
That's how the huge leverage would make sense, for Hwang. Pocket part of the wins when all is rosy, let the business die when things don't go your way.
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