This story is not new! In every crisis, stock manipulators make fortunes with insider trading and price manipulation. This is not new, but it must be curtailed. Read today's example.... The man should be arrested, and NEVER ALLOWED on a business TV program again!
American hedge fund boss Bill Ackman has made $2.6 billion by betting against the markets just days after stoking fears by saying 'hell is coming' and begging President Donald Trump to shut down the country amid the coronavirus pandemic.
The Pershing Square Capital Management hedge fund manager said his firm had made $2.6billion from a one-off bet that the coronavirus outbreak would cause a global market crash.
His firm seized upon bond market turmoil during the coronavirus crisis in buying 'credit protection on various global investment grade and high-yield credit indices'.
The bet, which was designed to protect Pershing Square Capital Management from falling stock markets triggered by the pandemic, saw his firm make almost 100 times its initial $27million investment.
Read More: Sickening: Hedge fund boss Bill Ackman makes $2.6BILLION by betting AGAINST the markets just days after stoking fears by giving emotional interview warning 'hell was coming' and begging Trump to shut down country over coronavirus pandemic