Making millions from chaos: the fund cashing in on the stock market collapse
by Rupert Neate Wealth correspondent from Economics | The Guardian on (#3FGX1)
Texas hedge fund Artemis plucks millions from investments designed to benefit from turmoil and volatility
Stock markets gyrated wildly this week, and a lot of people lost a lot of money. But Chris Cole, a 38-year-old hedge fund manager from Texas, wasn't one of them. He made millions from his fund's bet on a financial apocalypse.
From his office overlooking the Colorado river in Austin, Texas, Cole runs Artemis Capital, a hedge fund that, since 2012, has been betting on a repeat of the 1987 Black Monday stock market crash.
Related: By betting on calm, did investors worsen the stock market fall? | Nils Pratley
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