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Wall Street heavyweights profited as the market melted down in February after getting private warnings from the Trump administration, new report says

8 days ago   |   By Business Insider

Summary List Placement
Wall Street investors knew of private concern within the Trump administration around the coronavirus and used the knowledge to position for the following market plunge, The New York Times reported Wednesday.
A memo penned by hedge fund consultant William Callanan described White House officials' private wariness of a US outbreak during late-February meetings. At the same time, the officials publicly allayed concerns around the coronavirus.
Callanan sent the note to Appaloosa Management founder David Tepper on February 26. The memo soon spread throughout the firm and...
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