Some people just have a knack for seeing an opportunity in things and making a bet that makes them thousands, if not millions, and sometimes billions. Of course, it helps if the bet maker is in the financial sector already and knows what signs to look for. That, however, doesn’t guarantee the success of the bet in question. George Soros has the most famous one of these stories (which we will get into below) from back in 1992, when he basically broke the Bank of England. Recently, hedge funder Bill Ackman won big last month, with a bet that the coronavirus would crash the stock market. He turned $27 million into $2.6 billion with this bet. This led us to think about other big bets that seemed controversial at the time they were made, but paid off big for the man (they are all men here, sorry ladies!) who took the chance. So, without further ado, let’s dive in and look at 10 of the best and biggest bets in the financial sector that have paid off well for those that took the chance.
Bill Ackman is a billionaire hedge fund manager. He had a feeling that the market meltdown due to all the coronavirus shutdowns, furloughs, and layoffs could pay off big for him. He made some defensive hedge bets in March 2020 and turned his $27 million position into a $2.6 billion gain. He believed the debt bubble would burst and investors would abandon riskier securities. He was correct.
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