Joe Nocera, Columnist

Puerto Rico Battles Shortsighted Hedge Funds

Helping the island recover would be the right thing to do. It would be more profitable, too.

July 18, 2018 at 5:00 PM UTC

Joe Nocera is a former Bloomberg Opinion columnist. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. He is the host and writer of the Bloomberg-Wondery podcast "The Shrink Next Door."

Does this look like a place that can repay its debts?
Photographer: Joe Raedle/Getty Images

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One of the more enlightening scenes in the recently concluded season of “Billions”1 came in the second episode, when the team at Axe Capital learns that a Black Swan event has taken place: a tsunami in Brazil.

The traders gather in a conference room and begin listing all the ways they can make money from the disaster.