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 as much money, or not 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.
Its 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 much accelerated approval, manufacturing and distribution plans 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, which has risen sharply due to virus break-ins in vaccines [Bloomberg]