Hedging the dystopia

Your post is not accurate despite it being a narrative that is often repeated on X. Here are the facts: 1) @BillAckman and Pershing Square ("Pershing Square") earned all of their profits from Pershing Square's CDS position before Bill’s CNBC appearance on March 18, 2020. 2) Pershing Square had already reinvested more than half of the proceeds of the sale of the CDS in buying stocks by the time of the CNBC interview. 3) Pershing Square was over 90% long and had no short positions in any stocks or stock market indices at the time of Bill’s appearance. During the interview, Bill named several of the stocks that Pershing Square was buying that day, including HLT, QSR and SBUX. 4) Less than two hours later, at 2:55PM on the day of his CNBC appearance Bill posted the following to clarify his views on the economy: “Some investors have been confused by [my] remarks. To clarify, I am confident the president will do the right thing in temporarily shutting down the country and closing the borders. If that happens, we can win the war against the virus and the markets and the economy will soar. That is why we are buying stocks. These are bargains of a lifetime if we manage this crisis correctly.” x.com/billackman/sta… For additional information, please: Read a detailed account of the facts: pscmevents.com/Pershing-Squar… Watch Bill’s full interview: cnbc.com/video/2020/03/… Read a transcript of the interview: pscmevents.com/Transcript-CNB…