Uh Oh, Bill Ackman Is Ticked Off as Market Drops

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Wall Street is raising alarms over the stock market. The Dow dropped another 1200 points and the S&P 500 fell 4%, entering bear territory. Oil fell. It’s a good time to buy Amazon, Apple or Tesla.

Trump’s tariffs are being blamed.

The administration seems to have lost Bill Ackman.

Bill Ackman is no fan of Howard Lutnick’s investment strategy. Ackman pointed out that Lutnick and his firm, Cantor Fitzgerald, are long bonds, suggesting they profit from economic downturns.

Ackman wrote:

just figured out why Howard Lutnick is indifferent to the stock market and the economy crashing. He and Cantor are long bonds. He profits when our economy implodes. It’s a bad idea to pick a Secretary of Commerce whose firm is levered long fixed income. It’s an irreconcilable conflict of interest.

He is no longer angry with Democrats:

I have no anger toward Dems. Just disappointment. I don’t think this was foreseeable. I assumed economic rationality would be paramount. My bad.

Donald Trump has supported tariffs for decades. Ackman should have known that.

Many people aren’t impressed with Ackman’s comments.

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kat
1 month ago

Ackman is a RINO at best, and is just one more wealthy guy who likes to be heard.

Boycott Fake News
1 month ago

Bill Ackman is a hedge fund manager so he takes the short view. And Jim Cramer is a loser stock analyst who said Biden had the best economy ever. But we didn’t vote for these two people to direct our country. We voted for President Trump, and that is whom we ultimately trust.

ThinkAboutIt
1 month ago

There are always going to be talking heads ready to either Hype or Gripe about markets. I watched the stock market slide in October of 2007 to eventually fall a year later. The S&P went from the 1500s to just under 700. Today after the turmoil the S&P is still over 5000. We all know the stock market is mostly the product of emotional responses to perceptions of good and bad bets.

So you have to ask what’s the real value of a stock. As in all gambling the value goes to the winners first and second, to losers who can learn something.

Trumps tariffs is not gambling, they are a real response to the real problem of systemic unfair trade. When all the emotions, hype, and gripe subsides one thing will become clear. That we are better off. So sit back, be patient, and enjoy the ride.

The Prisoner
1 month ago

Ackman is a known bad apple. He got mad at the left because they would not give unconditional support to Israel. But, he funded those leftist schools that refused to have arrested illegal protesters. That makes him the stupid one, doesn’t it?

Ackman is Israel first and himself first. So he showed support for Trump. Ackman’s other love aside from Israel is money. He never had any credibility. I bet he will still throw many millions at leftist schools just like he always did.

Lutnick is implementing Trump policies, not his own.

Apparently, Ackman’s policy is that being ripped off by other nations is OK. As I said, he is not USA first, and he just proved it again.