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.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

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.
แหล่ง: BusinessTimes - 🏆 15. / 51 อ่านเพิ่มเติม »

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 ...
แหล่ง: ChannelNewsAsia - 🏆 6. / 66 อ่านเพิ่มเติม »

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.
แหล่ง: BusinessTimes - 🏆 15. / 51 อ่านเพิ่มเติม »