"Mega investor Bill Ackman, who hit headlines around the world when he made a whopping $2.6 billion in March betting the stock market would tank due to the coronavirus, is betting that the economy will recover quickly once the crisis ends.
Ackman’s Pershing Square Capital Management reinvested his windfall this week — betting on Hilton, Berkshire Hathaway, Starbucks and a few other unnamed companies, expecting them to get back to profitability sooner rather than later according to the Financial Times, and that the “economy’s turnaround [will happen] before insurance’s full premiums are due.”
The economy is on shaky grounds as unemployment is expected to hit 20% in the coming months and while many will be rehired once the virus is contained, experts have said it will remain at 6% throughout 2021.
Ackman was slammed last month after he went on television last week to tearfully warn that “hell is coming” and beg the White House to shut down the country for 30 days, and then made billions when the economy tanked. He was knee-deep in a bet against the markets that netted him $2.6 billion.
Debt markets soon floundered on fears of the coming pandemic — fears, critics say, that he helped stoke.
https://nypost.com/2020/04/11/bill-a...irus-pandemic/
"If things go well in the battle vs COVID-19 (such as this thing practically blowing away in a few weeks or months), then i can see a possible future where "economic recovery" is fast and doesn't take years. I can see some businesses losing their appeal to customers while others blossom. Protective products (e.g. masks, shields) makers, Amazon & Netflix, just to name a few examples, are booming & should continue to do so."
Ackman’s Pershing Square Capital Management reinvested his windfall this week — betting on Hilton, Berkshire Hathaway, Starbucks and a few other unnamed companies, expecting them to get back to profitability sooner rather than later according to the Financial Times, and that the “economy’s turnaround [will happen] before insurance’s full premiums are due.”
The economy is on shaky grounds as unemployment is expected to hit 20% in the coming months and while many will be rehired once the virus is contained, experts have said it will remain at 6% throughout 2021.
Ackman was slammed last month after he went on television last week to tearfully warn that “hell is coming” and beg the White House to shut down the country for 30 days, and then made billions when the economy tanked. He was knee-deep in a bet against the markets that netted him $2.6 billion.
Debt markets soon floundered on fears of the coming pandemic — fears, critics say, that he helped stoke.
https://nypost.com/2020/04/11/bill-a...irus-pandemic/
"If things go well in the battle vs COVID-19 (such as this thing practically blowing away in a few weeks or months), then i can see a possible future where "economic recovery" is fast and doesn't take years. I can see some businesses losing their appeal to customers while others blossom. Protective products (e.g. masks, shields) makers, Amazon & Netflix, just to name a few examples, are booming & should continue to do so."
