• Some of the biggest names in the hedge-fund industry may have gotten whacked by betting on PG&E at exactly the wrong time

    2 days ago - By Business Insider

    Pacific Gas and Electric Company , California's biggest utility provider, has seen its value plunge by 80% after last November's deadly California wildfire.
    The utility on Monday said it intends to file bankruptcy petitions at the end of the month to reorganize under Chapter 11.
    Eight hedge funds snapped up shares in the third quarter - before the wildfire broke out.
    Including Monday's loss, those eight firms would have lost $1.8 billion over the past three months if they held on to their positions, according to Markets Insider's calculations.
    Pacific Gas and Electric Company...
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