1261 days ago • Posted by Charles-Henry Monchau
Billionaire Hedge Fund Manager Bill Ackman has put another massive credit short of $20bn to hedge its portfolio against the next crash
Having made many headlines earlier in the year with his rightly apocalyptic perspective on the pandemic, billionaire hedge fund manager Bill Ackman pocketed a tidy $2.6 billion in profits on a massive (credit) hedge he placed amid stock market complacency ahead of its March collapse. The founder of hedge fund Pershing Square Holdings is at it again, telling The FT that he has put on another massive credit hedge against his long stock book where he sees complacency. Pershing is up 44% year-to-date, so who can blame him for protecting some of that gain, but what appears to have catalyzed the action is a combination of the vaccine news (which he sees as bearish), the complacency of stocks (seemingly ignoring all possible risks), and the cheapness of the hedge - source: www.zerohedge.com .
