The following is an excerpt from Weiss Multi-Strategy Advisers LLC’s latest Thematic Spotlight, which focuses on timely thoughts at the intersection of policy and markets.
Bill Hwang dubbed his family office Archegos, a new testament reference to the “archegos of life,” meaning ‘the one who leads the way.’ Despite the firm’s prophetic origin, Hwang was a leader without a plan – or at least without an exit strategy. The firm imploded in the final days of March as its pyramid of