Yes, definitely more than one.Weird thing is: Under normal cirucmstances a really big Hedge Fund (I'm not talking about those bucket shops, pink sheet swindlers and whatnot) has a proper risk management, which also includes stress scenarios (earthquakes, vulcano erruptions etc.). Part of that should also an pandemia, because we had 2 of them in last 20 years, so a pandemia is NOT a black swan. I really would like to know WHO went bust and with which strategy.
I share your view regarding leverage. You can add to that doing business with China is a "leverage in itself" so to say. You have