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Ackman said hell was coming, was appropriately hedged using instruments which would appreciate when hell did indeed come, and made $2bn on his hedge which offse
by bidirectional 4y ago
Ackman said hell was coming, was appropriately hedged using instruments which would appreciate when hell did indeed come, and made $2bn on his hedge which offset the losses in his equity positions. He didn't net profit $2bn.
- llampx 4y agoHe appeared on TV crying while his firm was unrolling their hedges and buying stock for the rebound. Never trust media.
- dkrich 4y agoAckman has a very mixed track record and has not had particularly great returns. To believe that he somehow predicted the entire sequence of events is being incredibly generous. Earlier this year he laid out an unbelievably lazy bull case for Netflix when it was around $350/share and said he had accumulated over a billion dollar position only to sell it a month later a massive loss saying the story had changed.
- fullshark 4y agoIt's not that he tried to predict, it's that he tried to cause a panic selloff to buy stocks for cheaper. I imagine his CNBC interview had some effect it was unhinged and went semi viral.
- steveBK123 4y agoits called "talking your book"
- Buttons840 4y agoThis is the first time it's occurred to me that any "market-expert" who is widely listened too has an inherent conflict of interest. By misleading the public they can increase their own gains.
- llampx 4y agoThis is pretty much all financial media, especially Jim Cramer from MSNBC.