Markets

MARKETS

“Very negative” stance powered Pershing Square gains – but Ackman does not see protracted slump

“Very negative” stance powered Pershing Square gains – but Ackman does not see protracted slump

Pershing Square CEO Bill Ackman’s “very negative view” and “good sense of timing” powered the firm’s stellar USD2.6 billion gain last month but the high-profile activist hedge fund manager does not fear a protracted 1930s-style depression as a result of the Covid-19 shutdown.

MANAGER INSIGHTS

“The liquidity barometer is very poor right now,” says Blueshift’s Mani Mahjouri

“The liquidity barometer is very poor right now,” says Blueshift’s Mani Mahjouri

Last month, the impact of coronavirus caused stock markets to plummet. This led to a huge spike in volatility, with the VIX Index hitting a high of 82.69 on 16 March, benefiting macro strategies (according to the latest Q1 performance figures) as well as statistical arbitrage strategies like New Jersey-based Blueshift Asset Management.