Seth Klarman’s Canny Hedge Against Wildfires
March 22, 2019 at 08:30 AM EDT
Before the California wildfires started last November, billionaire hedge fund manager Seth Klarman’s firm Baupost Group bought 14.5 million shares of PG&E stock, according to an article in Chief Investment Officer, then hedged its bet by purchasing insurance claims against the power company....
