Calpers Missed a $1 Billion Payday by Scrapping Market Hedge [Yahoo! Finance News]
Morgan Stanley (MS)
Last morgan stanley earnings: 4/16 07:15 am
Check Earnings Report
US:NYSE Investor Relations:
morganstanley.com/about-us-ir
Company Research
Source: Yahoo! Finance News
) -- Three years ago, America’s largest pension fund made an unusual investment. It bought so-called tail-risk protection, a kind of insurance against financial catastrophe. In a market meltdown like the one sparked by the coronavirus, the strategy promised a massive payout -- more than $1 billion.If only the California Public Employees Retirement System had stuck with the plan. Instead, Calpers, as the fund is known, removed one of its two hedges against a bear market just weeks before the viral outbreak sent stocks reeling, according to people familiar with its decision.The timing couldn’t have been worse. The fund had incurred hundreds of millions of dollars in premium-like costs for those investments. Then it missed out on a bonanza when disaster finally struck.Softening the blow, Calpers held on to the second hedge long enough to make several hundred million dollars, one of the people said.Ben Meng, chief investment officer of Calpers, said the fund terminated the hedges because
Show less
Read more
Impact Snapshot
Event Time:
MS
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MS alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MS alerts
High impacting Morgan Stanley news events
Weekly update
A roundup of the hottest topics
MS
News
- Netflix, Inc. (NFLX) M&A Call Transcript [Seeking Alpha]Seeking Alpha
- Trustpilot surges on Morgan Stanley upgrade despite short seller claims [Yahoo! Finance]Yahoo! Finance
- MP Materials rises as Morgan Stanley upgrades stock on 'strategic importance' [Yahoo! Finance]Yahoo! Finance
- Jumped the gun, says Morgan Stanley; reverses December U.S. Federal Reserve rate call to 25bps cut [BNN Bloomberg (Canada)]BNN Bloomberg
- Denali Therapeutics Inc. (DNLI) Analyst/Investor Day Transcript [Seeking Alpha]Seeking Alpha
MS
Earnings
- 10/16/25 - Beat
MS
Sec Filings
- 12/5/25 - Form FWP
- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- MS's page on the SEC website