He nailed the March coronavirus selloff — now he says there’s another 30% to go before the stock market hits bottom
Hedge-fund manager Dan Niles, in a note cited by Yahoo Finance this week, warned his clients way back in February that he was getting “increasingly worried” investors weren’t ready for the impact the spread of the coronavirus could have on the U.S. economy.
So Niles positioned his portfolio accordingly. Good thing. While the Dow Jones Industrial Average posted its worst first quarter ever, his Satori Fund closed in positive territory.
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Dan Niles is founder and portfolio manager for the Satori Fund, a tech-focused hedge fund.