BILLIONAIRE INVESTOR BILL ACKMAN TURNED $27 MILLION INTO $2.6 BILLION BY BETTING THAT CORONAVIRUS WOULD TANK THE MARKET

Thomson Reuters Hedge fund billionaire Bill Ackman turned a $27 million position into a $2.6 billion windfall as the coronavirus dragged stocks to multiyear lows and threatened deep economic recession. Pershing Square Capital Management turned to credit protection on investment-grade and high-yield bond indexes to bet on an increased risk of corporate default. The multibillion-dollar profit offset losses elsewhere in Ackman's portfolio and d...

BusinessInsider (Date:03/26/2020 14:15) Read full article >>

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Bill Ackman: William A. Ackman, more commonly known as Bill Ackman, is an American hedge fund manager. He is the founder and CEO of hedge fund Pershing Square Capital Management LP.
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