Morning Brew Daily Hedge Funds Cash-In on Disasters & Exxon Mobil Bites Back
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Jan 23, 2024 Dive into the booming world of hedge funds making record profits by betting on disasters. Discover the groundbreaking rollout of the first malaria vaccine in Africa and its public health implications. Hear about Exxon Mobil's clashes with shareholder demands over emissions targets. Explore the cultural resurgence of the 'mob wife' trend in fashion, and learn why AI isn't killing jobs anytime soon. Plus, find out about the increasing focus on 'blue zones' in real estate, promoting healthier living.
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Applebee’s Date Night Pass Frenzy
- Applebee's $200 date night pass, offering $30 weekly dining credit, sold out in a minute.
- The pass crashed the website due to high demand, prompting social media complaints about limited availability.
Hedge Funds Profit From Disasters
- Hedge funds achieved record profits in 2023, tripling their 2022 returns, by betting on natural disasters.
- This strategy involved buying 'cat bonds', which transfer disaster risk from insurers to investors.
Top Hedge Fund Performers
- TCI, the top-performing hedge fund, achieved 33% returns by investing in stocks like Alphabet, Visa, and General Electric.
- Citadel also performed well, becoming the best-performing hedge fund ever, surpassing Bridgewater.