The Trade War Dividend: Druckenmiller's Exact Positions, Bridgewater's 50-Year Record +34%, Ackman's -15% Error, and the $164 Billion Tariff Refund Market

How the 2025 tariff crisis produced +45% for one fund and -15% for another. 14 funds, every trade traced to a primary source: transcript, investor letter, court filing, or regulatory data.

A primary-source forensic breakdown of how the 2025 tariff crisis separated hedge fund winners from losers — every trade traced to an interview transcript, investor letter, court filing, or regulatory data. Fourteen funds. Eight mechanisms. One regime shift.