"If there's a vaccine soon, which I hope there is, markets could snap back quickly," Ackman said.
"My expectation is things don't get meaningfully better until the second half of 2021," Ackman said. Ackman's Pershing Square is"effectively 100% long," but does have a short position in the high-yield index, saying that it serves as a good hedge if there's further market weakness.
Ackman added that bankruptcy isn't always bad for companies, explaining that a bankrupt company doesn't have to fire all of its employees, and often comes out of bankruptcy as a less levered company in a better position to compete.
Junk bonds
Bill Ackman look like Jeff Bezos w/ hair
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bill Ackman: 'We are long-term bullish on America' but betting against high-yield companiespos Ackman is a hack! 👎
Source: CNBC - 🏆 12. / 72 Read more »
US stocks fade into the close as doubts around a rescue bill erase gains | Markets InsiderUS stocks limped into the close on Tuesday, paring earlier gains, after Senate Majority Leader Mitch McConnell said he doesn't expected another ... Buy the dip 📈
Source: BusinessInsider - 🏆 729. / 51 Read more »
Ackman: Pershing Square 'taking no compensation' for new SPAC investment vehicle“There’s literally no compensation to the sponsor,” Bill Ackman says about Pershing Square Tontine Holdings, which will be the largest SPAC to date. Get this MF off the air. We don’t want this pos on the air That's because already made his fortune by spewing his fear mongering nonsense on 3/18 while shorting the market. The Worst of Wall Street. BOSS
Source: CNBC - 🏆 12. / 72 Read more »
Bill Ackman's blank check company raises $4 billion in biggest U.S. SPAC IPOBillionaire investor Bill Ackman backed Pershing Square Tontine Holdings Ltd has raised $4 billion in its U.S. initial public offering, in the largest listing ever by a special purpose acquisition company (SPAC).
Source: Reuters - 🏆 2. / 97 Read more »