2min chapter

The Compound and Friends cover image

The Bet

The Compound and Friends

CHAPTER

How to Bet on the S&P 500

Hedge funds bet against the S&P 500 on January 1, 2008. The market was up 18% a year for nine years before the Fed came in and raised interest rates. "I viewed the bet as a referendum on theS&P," says Hagan. 'It sure looked that way'

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