This translation has been automatically generated and has not been verified for accuracy.The New York hedge fund manager, seasoned by past financial crises and spooked by seemingly endless quarters of ever-higher markets, had for years set up for financial calamity, even if it meant sometimes poor returns.
“I certainly did not expect it to come from a virus, but I have had the conviction – for a long time – that investors needed to be ready for an extreme market decline,” Weinstein wrote in the letter that was sent to investors on Sunday.Saba is among a small group of firms that have scored major returns for clients in recent weeks through so-called tail risk products.
“This has been a great period for us and our clients,” Universa chief investment officer Mark Spitznagel said via a spokesman, who declined to comment on performance.
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