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.’