"The Single Best Trade of All Time"???
"Bill Ackman had a 'hunch' back in February that the coronavirus pandemic would have a greater impact on the stock market than investors were pricing in, so he essentially made a wager that the bubble would burst and started setting up a $27 million hedge."
"The Pershing Square hedge-fund manager then watched as the virus spread and the market tanked, turning his relatively modest bearish bet into a $2.6 billion winner."
"He cashed out on March 23."
"In an op-ed for the New York Times, author and former investment banker William Cohan called Ackman’s move perhaps 'the single best trade of all time'.”
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"Senator Elizabeth Warren is calling on US financial regulators to investigate whether insider trading laws were violated when elite investors reportedly got wind of private concerns voiced by Trump officials about the pandemic in late February."
"Numerous investors may have used this early and insider information about the looming, tragic economic and public health consequences of the pandemic to extract profits for themselves," Warren wrote in the letter obtained first by CNN Business.
Hmmmmmmmmmmmmmmmm……………………….
Scott