Those irascible North Koreans are at it again. This almost certainly has Ken Langone soiling himself, and has Ray Dalio buying more gold. Certainly, this all seems very bad: Kim Jong-un may well have missiles that can obliterate Seattle or San Diego, and even if we can stop him from doing that, we probably can’t stop him from killing every single South Korean, and probably a lot Japanese, before turning North Korea into a sheet of nuclear glass.
But are there counter-indications? Signs that the situation really isn’t as dire as it seems, what with Steve Bannon being the only one talking sense about it? Perhaps a man whose every instinct is wrong, and who can be relied upon to always predict the opposite of what happens? Why yes, yes there is. And he’s at least a little concerned about things.
Ackman said during Pershing Square's second-quarter conference call on Aug. 16 that his firm took a "small position" in out-of-the-money call options on a volatility index.
This hedge "will protect against stock market risk," he said, citing a potential conflict on the Korean peninsula.