Headlines 

This Tiny Hedge Fund Just Made 8,600% On a Vix Bet

Not everyone got crushed when the market collapsed. For traders at a little-known Denver hedge fund who saw it coming, it was the score of a lifetime — a $17.5 million payday on a $200,000 bet. “People were laughing at us, saying this could never happen, this should never happen,” Justin Borus, the 41-year-old founder and manager at Denver-based Ibex Investors, said in an interview. “We saw people pricing this as a 1-in-5,000 event, but it was more like a one-in-five-year event.” Borus’s team bet that an exchange-traded fund linked to…

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Headlines 

Holy smoke! The church of cannabis

As congregations dwindle, a new religion is lighting up Denver, Colorado. Aaron Millar joins the elevationists of the International Church of Cannabis who worship the weed It started, naturally, with a group of friends smoking a joint. Steve Berke, a graduate of Yale University, was temporarily living in an old church in Denver, Colorado. His estate agent parents had bought the 113-year-old building with the plan to turn it into flats. He and Lee Molloy, as well as a few friends, had just moved from Miami to capitalise on Colorados…

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