Bill Ekman, founder and CEO of Farsing Square Capital Management.
Cameron Costa | Cnbc
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Hedge fund manager Bill Ekman has scored one of his best years in 2020, despite a global epidemic, an economic downturn, and a volatile market unsettled by a presidential election.
His Pershing Square fund achieved a 70.2% return last year after rising 4.6% in December. The performance was far superior to the return of the 2020 Dow Jones Industrial Average, the S&P 500 or even the Nasdaq Composite, which gained a strong 43.6% lead.
Ekman’s banner year came in the form of Kovid-19 during one of the most volatile business environments in recent memory and efforts to contain the virus have resulted in trade closures, travel restrictions and the resulting recession.
At the depth of market sell-off in the first quarter of 2020, the S&P 500 fell more than 30% from its record high, as traders messed up airline, retail and energy stocks. Fear gripped Wall Street as traders were worried about rising hospitalizations and deaths, a sharp recession and an indefinite vaccine time.