Hedge Funds Feed off of the Troubles at Malls

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According to the New York Times, as the COVID pandemic accelerates the demise of some brick-and-mortar retailers, hedge fund investors profit handsomely.

Questions:

  1. Who was Catie McKee, hedge fund analyst talking to last October about her investment strategy?
  2. How much did the investor(s) make for the trade within Ms. McKee’s firm that more than doubled their money?
  3. Why is this type of trade the opposite of investors buying stocks and bonds with the expectations of a rise in value and what is it called?

Source:

Kelly, K. (2020). ‘The Big Short 2.0’: How Hedge Funds Profited Off the Pain of Malls. The New York Times, August 24 (Retrievable online at https://www.nytimes.com/2020/08/24/business/mall-short-hedge-funds.html)