{"id":110204,"date":"2020-11-11T18:28:34","date_gmt":"2020-11-11T15:28:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bill-ackman-just-made-another-massive-bet-on-a-new-covid-19-surge\/"},"modified":"2020-11-11T18:28:34","modified_gmt":"2020-11-11T15:28:34","slug":"bill-ackman-just-made-another-massive-bet-on-a-new-covid-19-surge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bill-ackman-just-made-another-massive-bet-on-a-new-covid-19-surge\/","title":{"rendered":"#Bill Ackman just made another massive bet on a new COVID-19 surge"},"content":{"rendered":"

“#Bill Ackman just made another massive bet on a new COVID-19 surge<\/strong>”
\n<\/p>\n

\n Bill Ackman just placed another big bet against the credit markets as coronavirus cases surge nationwide.<\/p>\n

The billionaire investor said he has bought $8 million worth of insurance that will pay off if companies start defaulting on their debts like they did when the virus shut down the economy in the spring.<\/p>\n

The bet is nearly identical to \u2014 albeit only 30 percent as big as \u2014 his now-famous hedge in late March, in which he bought $27 million of credit-default swaps that netted him a staggering profit of $2.6 billion.<\/p>\n

\u201cI hope we lose money on this next hedge,\u201d Ackman told a Financial Times conference on Tuesday. \u201cWe\u2019re in a treacherous time general<\/a>ly and what\u2019s fascinating is the same bet we put on eight months ago is available on the same terms as if there had never been a fire and on the probability that the world is going to be fine.\u201d<\/p>\n

Ackman said he made his new hedge on the day that Pfizer announced its new, promising new COVID-19 vaccine. Pfizer\u2019s announcement was \u201cactually bearish,\u201d Ackman said, predicting that it will prompt Americans to grow complacent about mask-wearing, allowing the deadly virus to spread even wider.<\/p>\n

When Ackman took his profits on March 23, there were just over 10,000 new cases of COVID-19 nationwide. On Tuesday, new cases were just shy of 140,000, a dizzying number that has stoked fears of a second lockdown.<\/p>\n

While he sees risk in the near term, Ackman predicted \u201ca robust recovery\u201d in 2021.<\/p>\n

Ackman\u2019s trade in the spring massively boosted his hedge fund, whose performance had been shaky in recent years. His fund, which had been down 7 percent before the pandemic, plowed the windfall from the credit swaps into fresh stock bets and is now up 44 percent this year.<\/p>\n

Ackman is meanwhile sitting on a $5 billion blank check company that he has used to try to lure big game<\/a> acquisitions like Airbnb and Bloomberg LP.<\/p>\n

Another factor in Ackman\u2019s first trade was Ackman himself.<\/p>\n

The corporate cage-rattler came under fierce criticism in March for his role in the news<\/a> cycle that preceded the shutdowns. On March 18, Ackman fired off a tweetstorm to President Trump, recommending that he impose a nationwide \u201cextended spring break\u201d to combat the coronavirus.<\/p>\n

Later that day, an emotional Ackman called into CNBC and warned that \u201cHell is coming.\u201d<\/p>\n

\u201cUntil a vaccine is manufactured, distributed and injected, we will go through a depression-era period in the country,\u201d Ackman exhorted. \u201cMillions of people are going to die around the globe and as many as a million Americans, it\u2019s just math.\u201d\n <\/p><\/div>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Bill Ackman just made another massive bet on a new COVID-19 surge” Bill Ackman just placed another big bet against the credit markets as coronavirus cases surge nationwide. The billionaire investor said he has bought $8 million worth of insurance that will pay off if companies start defaulting on their debts like they did when…<\/p>\n","protected":false},"author":1,"featured_media":110205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/11\/GettyImages-622170374-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[79537,70885,1545,70610,71070],"class_list":["post-110204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-11-20","tag-bill-ackman","tag-coronavirus","tag-finance","tag-hedge-funds"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/110204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=110204"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/110204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/110205"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=110204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=110204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=110204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}