Why A "Pandemic Fund" Wouldn't Work
Imagine a Pandemic Fund. It would have identified Covid-19 early, might have pyramided gains (start with cruise lines and airlines, then equities). But it wouldn’t have much in the way of assets under management. If you raised your Pandemic Black Swan Fund in 2015, you bled money in 2016, 2017, 2018, 2019. What would you have said to investors at th…