As his hedge fund experiences record losses amid a sharp decline in stocks, Alister Hibbert, BlackRock’s $100 million money manager, has turned bearish, according to a report from Bloomberg.
As his hedge fund experiences record losses amid a sharp decline in stocks, Alister Hibbert, BlackRock’s $100 million money manager, has turned bearish, according to a report from Bloomberg.
Throughout April, the BlackRock Strategic Equity Hedge Fund made losses of 13%, exceeding the worst annual decline of 11%.
This is the first time the fund has turned net short since launching in 2011. The hedge fund has always benefitted from the historic surge in stocks and was net long 35% at the end of 2021.
