The Financial Times’ predictable, yet unseemly Economic Romance with Bill Ackman. Political Observer comments

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.’

Political Observer



About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer. 'Polemic is a discourse of conflict, whose effect depends on a delicate balance between the requirements of truth and the enticements of anger, the duty to argue and the zest to inflame. Its rhetoric allows, even enforces, a certain figurative licence. Like epitaphs in Johnson’s adage, it is not under oath.'
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