Billionaire hedge fund manager logs a significant gain
Billionaire hedge fund manager Bill Ackman, who traditionally invests in stocks, earned roughly $200 million from a bet against U.S. 30-year Treasury bonds, a person familiar with the trade said on Wednesday.on X, “we covered our bond short” some 12 weeks after he announced the bet on the messaging platform formerly known as Twitter.
Even as prices were moderating somewhat, Ackman in August argued that higher defence spending, energy scarcity and the transition to green energy and labor’s increased bargaining power would keep inflationary pressures high. “We continue to hedge the risk of a rise in 30-year Treasury rates because we remain concerned about the risk of higher long-term interest rates on equity valuations,” he told his investors.
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