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Bill Ackman Said ‘Hell Is Coming' in 2020 — How a $27 Million Hedge Turned Into $2.6 Billion as He Bought the Crash
Source: benzinga.com
Credit & Bond MarketsPandemic & Health EventsMarket Technicals & FlowsInvestor Sentiment & Positioning
Pershing Square CEO Bill Ackman warned of severe market stress ahead of the March 2020 COVID-19 crash, then turned a $27 million credit hedge into $2.6 billion in proceeds. He subsequently redeployed the gains into equities during the selloff, illustrating a highly profitable defensive hedge followed by opportunistic buying.
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