Bill Ackman - $2.6 Billion on Coronavirus Recovery

William Albert Ackman (born May 11, 1966) is an American investor and hedge fund manager. He is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. Ackman is considered by some to be a contrarian investor but considers himself an activist investor.

Ahead of the 2020 stock market crash, Ackman hedged Pershing Square's portfolio, risking $27 million to purchase credit protection, insuring the portfolio against steep market losses. The hedge was effective, generating $2.6 billion in less than one month.

On March 18, 2020, in an emotional interview with CNBC, Ackman called upon President Trump for a "30-day shut down" of the American economy to slow the spread of coronavirus and minimize loss of life and ensuing economic destruction resulting from the shutdown. Ackman warned that without intervention, hotel stocks were “going to zero” and said that America could “end as we know it." He also cautioned U.S. companies to stop stock buyback programs because “hell is coming.”

Ackman later received criticism for actively buying discounted equity stakes in the very companies he was warning could fail; however, Ackman already had realized roughly half of the gains before appearing during the CNBC interview. [1]

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