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ARGUS
the Hundred-Eyed Watchman: The Archegos Story
In Greek mythology, Argus Panoptes was the perfect watchman. With a hundred eyes, some always open, nothing could slip past him. Yet Hermes defeated him all the same. Slowly, steadily, he lulled the giant to sleep until every eye was shut. The watchman who could see everything was now in a way blind.
In March 2021, Wall Street had its own Argus: about a dozen of the world's most sophisticated banks, all watching the same client with their eyes wide open, still missed a $36 billion whale until it was far too late.
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