Ackman says Pershing Square no longer has hedges on stocks

REUTERS: William Ackman's Pershing Square Capital Management no longer has hedges on its stock portfolio, but still has some cash to invest if equities decline further as the United States battles the coronavirus outbreak, the billionaire investor said on Saturday.

Pershing Square earned roughly US$2.6 billion by hedging its stock portfolio in early March through credit protection on investment grade and high yield credit indices. Much of the money has been reinvested in stocks the firm already owns."Today, we are unhedged, and we no longer own any insurance", Ackman said in a Twitter thread, adding that he continues to believe the sooner the entire United States is shut down, the more lives will be saved and the sooner the economy will recover.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Hedge funds are pouncing on companies infected by coronavirus[NEW YORK] Hedge funds have lost billions of dollars as coronavirus has stalled the economy and sent Wall Street into a tailspin. But the financial institutions favoured by the world's richest investors are plotting a recovery by betting on the markets' slump. Read more at The Business Times.
Fonte: BusinessTimes - 🏆 15. / 51 Leggi di più »

US stocks fall, snapping three-day winning streakWall Street stocks sank on Friday (Mar 27), plunging after three positive sessions despite the House of Representatives approving a US$2 trillion ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »

Resilience package to mitigate earnings drop for STI stocks'SIGNIFICANT' cost savings of 4 per cent are expected for Straits Times Index (STI) stocks arising from the Singapore Resilience Budget, according to a DBS Group Research report. Read more at The Business Times.
Fonte: BusinessTimes - 🏆 15. / 51 Leggi di più »