Bill Ackman, through his hedge fund Pershing Square Capital Management, generated approximately $2.6 billion in profits during the COVID-19 market turmoil by strategically using credit default swaps (CDS) and timing market movements. Here's a breakdown of how he achieved this:
Continue reading : Finance sting .com
Key Steps in Ackman's Strategy:
Anticipating Economic Impact:
1.In February 2020, Ackman recognized the potential severity of COVID-19 and its economic repercussions, particularly on corporate credit markets. He predicted widespread business closures, market panic, and a credit crunch.