Legal Law

COVID vaccines have nasty negative effects for hedge funds

Without a little supposed help, it's harder for hedge fund managers to make money from the most important vaccine in human history than one might expect. However, it is one thing not to make money, or not make as much money as it could and would have been, if you did not predict how quickly the world's Pfizers and Modernas would find out. Losing all those frothy pandemic winnings that you thought you posted bets on at the end of the world is a whole different thing. Just ask Said Haidar.

His macro hedge fund Haidar Jupiter fell 23.5% in November. This was the largest monthly decline since it began more than two decades ago, when betting against stocks suffered from a global market rally. "We were surprised by a number of vaccine announcements in quick succession, with much higher efficacy rates and greatly accelerated approval, manufacturing and distribution schedules than suggested in previous guidelines," New York-based Haidar wrote to customers. The fund, which was up 68% up to August this year, is now up 15.5%.

Haidar Hedge Fund That Has Raised Vaccine Breakdowns Due to Virus Breakdowns [Bloomberg]

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