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And yet companies make a fortune betting on markets Until they don't. This happened in March, and I just love the Reddit headline: Someone yolo’d a pensio
by PhantomGremlin 6y ago
And yet companies make a fortune betting on markets
Until they don't.
This happened in March, and I just love the Reddit headline:
Someone yolo’d a pension fund
The trade was easy money until fat tails caught up with it. I think Matt Levine also discussed this, as did HN.
https://old.reddit.com/r/wallstreetbets/comments/g5r5n6/someone_yolod_a_pension_fund/ https://old.reddit.com/r/wallstreetbets/comments/g5r5n6/some...
- everybodyknows 6y agoAh ha! Thank you so much -- been wondering for months who might have been on the other side of this trade: https://www.forbes.com/sites/antoinegara/2020/03/25/billionaire-bill-ackman-100-fold-return-on-coronavirus-hedge-2-billion/ https://www.forbes.com/sites/antoinegara/2020/03/25/billiona... The tragedy of it of course is that the incompetent pension managers will keep their last ten years of performance bonuses, and the citizens of Alberta will get ... tax increases.