Billionaire investor’s Pure Alpha Fund down 20% after coronavirus-induced market turmoi https://www.ft.com/content/6addc002-6666-11ea-800d-da70cff6e...

This is what hedge funds do, they use various strategies to build hedges and reduce volatility according to their mandate.

Nothing crazy about expecting a downturn after a 10+ year bull-run with frothy markets, but looks like a bit of luck on the timing for those puts.

De-paywalled link: http://archive.md/rLhYP

Edit to add publication date: Updated Nov. 22, 2019 2:07 pm ET