Boaz Weinstein Preps for Credit Crunch After Wins on Bank Tumult

Even after netting a tidy profit from the recent banking turmoil, Boaz Weinstein isn’t gloating. In fact, he says, the big gains for those wagering on a credit crunch are only just getting started.

That’s how his hedge fund, Saba Capital Management, is positioned — with bets on stress he says is probably already ripping through private credit and insurers. Saba runs a tail-risk strategy that thrives in dislocated markets, one of a handful that feed his flagship fund which gained 73% in 2020’s pandemic. The $4.3 billion hedge fund clocked up returns in March from banking turmoil including a ...