Did a Black Swan Fund really just “make a billion dollars”?

The Wall Street Journal ran a story sourced by “a person familiar with the matter” wherein a Black Swan fund – which seeks to profit from extreme outlier negative events – has earned a billion dollars for the year, with most of the gain happening during the volatility of last week’s market correction. This is…

When 499 of the S&P 500 fall in a day

Fun little factoid from my friend Jon Krinsky at MKM Partners about yesterday’s bludgeoning: Among the many extreme breadth readings yesterday was that 499 of the S&P 500 components closed negative. Granted there are now 502 stocks in the S&P 500, but that is still the 2nd highest reading going back to 1996. The only…