These hedge fund bears have raked in millions from the coronavirus-led market meltdown | Markets Insider

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These hedge fund bears have raked in millions from the coronavirus-led market meltdown

, shedding 35% on contrarian bets against the longest-ever bull market in a year when the S&P 500 gained 29%.

But now, bearish bets against Tesla and US shale oil stocks are boosting Odey's returns, the FT reported. And, Clark's contrarian views are also paying off. In the last six days, the S&P 500 and the Dow Jones Industrial Average have fallen more than 10% amid fears that the coronavirus outbreak will hinder global growth.

It remains to be seen if the fund manager's gains will lead to a better annual performance in 2020 after a dismal year for hedge funds in 2019, when more fundsSEE ALSO:

 

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Stocks Open Lower, Face Biggest Weekly Losses Since 2008A market storm gathered pace as stock markets around the world sold off and investors struggled to calculate the economic fallout from the coronavirus epidemic. We offer Loans, Cash & Asset Backed Financial Instruments such as Bank Guarantee and Standby Letter of Credit (BG/SBLC) for lease and sale, and loan facilities. We offer verifiable bank instruments via SWIFT from genuine providers capable of taking up time bound transactions. WSJ more great news. Thanks for the panic alert!
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