Hedge-fund manager Edouard de Langlade had the best trading day of his career after President Trump unveiled his sweeping “Liberation Day” tariffs. Markets plunged the following day, resulting in a huge payoff for Langlade’s multibillion-dollar bet against U.S. stocks and the dollar.
“When Trump was elected, I thought, ‘The crash is about to come,’” said de Langlade, founder of Swiss hedge-fund firm EDL Capital, which gained 6% that day.