Remember, in every market, when someone loses money someone else will make money, in this case a lot of money:

American hedge fund makes $2.6BILLION from placing a $27million bet 13 days ago that the coronavirus pandemic would cause a market crash

A US hedge fund made well over $2billion from a one-off bet that the coronavirus outbreak would cause a global market crash - and less than a week after its boss said ‘Hell is coming’.

Pershing Square Capital Management hedge fund manager Bill Ackman wrote on his company’s website his firm had made $2.6billion from an initial $27million outlay the pandemic would create market havoc.

The enormous return came barely a week after Ackman claimed ‘Hell is coming’ for US business.

His firm seized upon bond market turmoil during the Covid-19 crisis, in buying ‘credit protection on various global investment grade and high-yield credit indices’.

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