Fundstrat's Tom Lee calls Bill Hwang a top 10 investment mind and says investors should be cheering successes not jeering failures

• Fundstrat's Tom Lee defended Bill Hwang on Twitter Tuesday after Hwang's hedge fund Archegos Capital Management blew up.
• Lee called Hwang a top 10 investment mind with a "peerless" ability to see the bigger picture.
• Lee added that investors should be cheering successes and not jeering failures.

Fundstrat's Tom Lee called Bill Hwang a top 10 investment mind and said investors should be cheering hedge fund successes not jeering their failures in a tweet on Tuesday.

Lee, who is the head of research at Fundstrat Global Advisors, said he has known Hwang for "many years" and that the hedge fund chief is "easily in the top 10 of the best investment minds" that he knows.

Lee called Hwang "arguably peerless in his ability to see the roadmap for the bigger picture."

Hwang has been at the center of a scandal that's rocked the markets over the past week after his hedge fund, Archegos Capital Management, was forced to liquidate its positions after failing to meet margin calls from several big banks including Goldman Sachs, Morgan Stanley, and Credit Suisse.

The liquidation caused shares of Archegos' holdings including ViacomCBS, Discovery, and a number of Chinese tech firms to fall throughout the week.

Banks like Credit Suisse and Nomura also face billions in losses after the hedge fund's implosion.

There have been few public defenders of Hwang since the news broke. Julian Robertson, who runs Tiger Management and once counted Hwang as a protégé, was the first to come to his defense.

Robertson said he remains a "great fan" of Hwang even after the recent episode and argued the liquidations "probably could have happened to anyone" in an interview with Bloomberg on Monday.

Fundstrat's Lee followed on Tuesday.

Lee noted in his Twitter thread that Hwang's Archegos Capital "generated investment returns dwarfing other funds, using PUBLIC EQUITIES, no outside money, no venture/angel investments."

The head of reasearch also said investors should be "in awe" of the Archegos chief's "astonishing success." Lee noted Hwang was able to turn his $100 million fund into an over $15 billion empire via consistent impressive returns.

Lee added that "the Schadenfreude over this event speaks to the envy and jealously of peers," referring to the German term for delight at others' misfortune.

Lee concluded his Twitter thread by saying investors "should be cheering success and not jeering at failure."