Financial Times/Ortenca Aliaj/10-10-2020
“‘I hope we lose money on this next hedge,’ Mr Ackman said. ‘We’re in a treacherous time generally and what’s 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.’”
USAGOLD note: Ackman knocked down a $2.6 billion profit on this same trade earlier this year. Implicit in the play, however, is a corporate debt problem that will weigh heavily on the economy (and the Fed) if the defaults begin to pile up.
