Headline: Inside Bill Ackman’s $2.6bn big short

Sub-headline: Hedge fund chief bets on stockmarket recovery after profiting from coronavirus sell-off

Dan McCrum and Ortenca Aliaj chronicle, in all its gripping economic melodrama, the triumph of the grey-haired genius boy Mr. Ackman. The reader is almost transported to a pastiche of the Marvel World of the late, lamented Stan Lee, with the aid of sexy graphs, and the nearly breathless tone of awe of McCrum/Aliaj. Give credit where credit is due! Mr. McCrum and Mr. Aliaj write with verve, and manage to maintain both dramatic tension, and to almost transmogrify the jejune. Quite a feat!   

Two sentences stand out:

‘Mr Ackman declined to comment for this article.’

‘The coronavirus hedge marked the first time that Pershing Square had wagered in credit default swaps since the financial crisis.’

https://www.ft.com/content/70a5566c-5c02-4dcd-9360-c2b0001f2f29

Political Observer