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.”
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.”
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