Worm Capital Wins on Coronavirus Short Bets

Arne Alsin’s critique of stock buybacks pays off.

Michelle Celarier April 27, 2020

(Bing Guan/Bloomberg)

Returns at Arne Alsin’s Worm Capital more than doubled during the first quarter, as the fund continued its bang-up year by shorting companies loaded with debt who have spent the last few years buying back stock instead of innovating or preserving capital.Those companies — like

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