HedgeFundManager

Bill Ackman's Big Bet on the Hong Kong Dollar

Hedge fund manager Bill Ackman made waves in the financial community yesterday by announcing a very bullish bet on the Hong Kong dollar. Currently pegged to its American counterpart, HK's currency would see its value soar if it were attached instead to a more compatible counterpart -- say, the Chinese yuan. Ackman appears to be banking on it, but in a low-risk way.