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    Bill Ackman says Covidomicron variants can be bullish on the market

    Bill Ackman, Founder and CEO of Pershing Square Capital Management.

    Adam Jeffrey | CNBC

    Investor Bill Ackman coronavirus If the symptoms turn out to be less severe, they could actually boost US stocks.

    “It’s too early to get clear data, but early reported data suggest that Omicron virus causes” mild to moderate “symptoms (less severe) and is more contagious. “Masu,” Acman said in a tweet on Sunday evening. “If this turns out to be true, it’s bullish, not bearish, for the market.”

    Pershing Square Capital Management’s founder and CEO added that it would be bullish on the stock market and bearish on the fixed income market.

    The first new Covid variant found in South Africa is now found in more than 12 countries, and many are Restrict travel From southern Africa. World Health Organization “Omicron strain”Variant of concern“On Friday, the Dow Jones Industrial Average suffered a 900-point drop. Worst day since October 2020..

    The Covid symptoms associated with the Omicron variant are described as follows: “Very calm” According to a South African doctor who first issued a warning about the new strain.

    Still, WHO said it will take weeks to understand how mutants affect diagnosis, treatment and vaccines.

    Acman’s comments have been widespread over the past two years in the midst of the health crisis and market turmoil. In the midst of the Covid-19 crisis of March 2020, Acman came to CNBC and warned investors: “Hell is coming“And he urged President Donald Trump and American companies to close the country for 30 days to contain the outbreak, calling it the only option to save the economy.

    A few days after the interview, Acman revealed that his company had finished a short position, just as the S & P 500 had bottomed out and was in his pocket. Bet over $ 2 billion on the market That month.

    In July, when Wall Street was wrestling with the Covid Delta variant, Acman said. Not a serious threat He sees interest rates rising against the backdrop of a big comeback as the economy resumes.

    More recently, at the end of October, hedge fund managers called on the Federal Reserve to begin curbing the support it provided to the economy during a pandemic. He said the central bank “should taper off quickly and start raising interest rates as soon as possible.”

    Pershing Square manages approximately $ 13 billion in assets, with hedge funds up 27.2% by October and up 21.6% after deductions, according to the company’s statement. It followed the 2020 banner, where the fund returned a whopping 70.2% online.

    Acman is making a big bet on the recovery of the restaurant, retail and hotel industries.To his top holdings at the end of the third quarter Loews, Hilton, Restaurant brand When Chipotle pepper. He picked up Domino’s Pizza Stocks earlier this year following the withdrawal.

    Bill Ackman says Covidomicron variants can be bullish on the market

    Source link Bill Ackman says Covidomicron variants can be bullish on the market

    The post Bill Ackman says Covidomicron variants can be bullish on the market appeared first on Eminetra.

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