Billionaire Bill Ackman Made 100-Fold Return On Coronavirus Hedge That Yielded $2.6 Billion

Discussion in 'Fighting Gamecocks Forum' started by world famous 3rd base hecklers, Mar 26, 2020.

  1. world famous 3rd base hecklers

    world famous 3rd base hecklers Well-Known Member
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    I wonder where the SEC is on this????

    If you lost your job or money in the market this past month, Bill Ackman is to blame...

    https://www.forbes.com/sites/antoin...-on-coronavirus-hedge-2-billion/#46344e526fcc

    On Monday, after a somewhat questionable decision to call into CNBC and outline just how bad the virus could be for the economy and how hard companies might get hit, Ackman took off the hedges.


    The Billionaire Interview That Tanked The Stock Market

    Bill Ackman panicked about the coronavirus early on.

    The billionaire investor had a nightmare about COVID-19 in late January, which might as well have been the plot of the pandemic thriller Contagion. When he woke up, he started prepping.

    He began arranging for his firm’s fifty employees to abandon their midtown Manhattan offices. He put on doomsday hedges. And then he pulled an enormous amount of cash from an ATM. By the time the Dow Jones Industrial Average was plunging seemingly a thousand points a day, Ackman’s $5.6 billion firm was making money amid the chaos.

    So when he woke on Wednesday morning, Ackman didn’t have a pleasant message for America. He took to Twitter to recommend a shutdown of the country.





    Then he called into CNBC around noontime to elaborate. And it was bad.

    “Hell is coming,” said Ackman, in a frenzied 28-minute interview. “Shut it down now,” he said of the economy, “There is a tsunami coming.”
     
    1 world famous 3rd base hecklers, Mar 26, 2020
    Last edited: Mar 26, 2020
    uscalumni likes this.
  2. uscalumni

    uscalumni Well-Known Member
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    I saw the interview, the first thing I thought of is what kind and how much of a "PUT" did he place on the stock market.

    USCALUMNI
     
  3. uscg1984

    uscg1984 Well-Known Member
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    I saw that he publicly claimed Hilton Hotels stock "might hit zero" as he was buying all of it he could get his hands on.
     
  4. ClemDent

    ClemDent Member
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    These hedge fund guys have been waiting for the market to turn for a while. They need the market to fluctuate up and down to make their big bucks. A steadily increasing market is not what they want.
     
  5. world famous 3rd base hecklers

    world famous 3rd base hecklers Well-Known Member
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    That's how people like George Soros and Warren Buffett made their money....
     
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  6. world famous 3rd base hecklers

    world famous 3rd base hecklers Well-Known Member
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    I was in Hawaii during that time and didn't know he was talking down the economy by panicking people..
     
  7. world famous 3rd base hecklers

    world famous 3rd base hecklers Well-Known Member
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    Amazon.com is going to zero...

    I hope I can pick some up under $1,900...
     
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  8. uscalumni

    uscalumni Well-Known Member
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    CNBC is my new ESPN and I at least try to catch the major highlights before I go to work. I was off last week during the stay at home directive and I saw Bill Ackman call into the network for an on telephone interview. As soon as the interview was over, the first thing I thought of was, he just placed a HUGE PUT against the stock market and I am sure he made a killing. I would not mind if the SEC did a little investigating against Ackman but they probably will not. They also need to put a foot up the ass of those senators sitting in security meetings and immediately selling their portfolios about a week before it crashed.

    USCALUMNI
     
  9. world famous 3rd base hecklers

    world famous 3rd base hecklers Well-Known Member
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    It's funny to see all these big bounces.... I think Bill Ackman had other hedge fund mangers followed his move...
     
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  10. cockhornleghorn

    cockhornleghorn Well-Known Member
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    My 401K is small potatoes, but I moved all that I had in stocks to other investments on February 10th. Coronavirus wasn't what prompted me, though, it was the ridiculously high stock price for Tesla, so I knew the market was about to tank. Coronavirus only sped it up. There will be another drop. I'm not moving anything back into stocks until the DJ falls below 15,000.
     

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