Matt Schlapp’s Miasma • McCarthy Does DeSantis • Pence Makes No Sense
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“Hell Is Coming”: How Bill Ackman Predicted the COVID Market Crash—And Made a Fortune
Good morning from the Hive newsroom! The COVID crisis may have been troublesome for most of Wall Street—but not for Bill Ackman. In a scintillating excerpt from her new book, Crash Landing, Semafor reporter Liz Hoffman recounts how the infamous short seller came away with billions in profit by betting against the market right before it crashed. “We need to either sell everything,” he told his top lieutenants in early February 2020, “or put on a massive hedge.”
Meanwhile, reporting from CPAC, Caleb Ecarma observes that Matt Schlapp, the chairman of the American Conservative Union, completely sidestepped concerns around the sexual-misconduct allegations that are currently hanging over him. Ecarma also caught comments from Newsmax’s flame-throwing chief executive, who doubled down on claims of “censorship” after being dropped by DirecTV. Thanks for reading.
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“Hell Is Coming”: How Bill Ackman Predicted the COVID Market Crash—And Made a Fortune
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In February 2020, the infamous short seller woke up in a cold sweat when he realized the pandemic might spell pandemonium on Wall Street, as Liz Hoffman writes in her forthcoming book, Crash Landing.
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