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Hedge Fund Manager Ackman Says Trump Should Shut Down U.S. to Save Economy

Published 03/18/2020, 12:57 PM
Updated 03/18/2020, 01:02 PM
© Reuters.

By Yasin Ebrahim

Investing.com - Hedge fund founder Bill Ackman said he has been "aggressively" buying stocks amid the selloff, but pleaded with President Donald Trump to shut down the country to save the economy.

"Mr. President, the only answer is to shut down the country for the next 30 days and close the borders," Ackman tweeted. "Tell all Americans that you are putting us on an extended Spring Break at home with family. Keep only essential services open. The government pays wages until we reopen."

Despite the stark warning, the hedge fund founder told CNBC he is buying stocks "aggressively," though he believes that a prolonged outbreak could see hotel stocks falling to zero.

Ackman continues to hold positions in Hilton Worldwide Holdings (NYSE:HLT) and confirmed he had increased his stake in the hotel chain.

Latest comments

A Hedge fund manager says he's long of stock, now wants the markets closed down to remove risk. Re-open the market when the scare is over and make ***from his long position. I never listen to anyone in the financial world, they talk their own book.
What does he really know? He is just a hedge fund guy and  there are a lot of them. Why even feature him here?
how much did he pay you for this pump article?
This guy is completely out of touch. Of course he welcomes a shutdown he could retire buy a small island somewhere and live out his life. The rest of us barely making ends meet every week that are now out if a job forcedvto go in debt and face hyperinflation due to the 10 trillion in fresh bills printed. Any little stock some of us owned is now 50% less. #worldsucks
right fix the whole problem with a little isolation
I guess it's implied but this dude and this article does not mention the virus once. It is as if the assumption is MONEY will *******the virus .
the "virus" will slow when falling oil prices slow. The world is still run by oil.
@luis trump is a sick men
we are doomed, even if america closes, economy will go downhill
🤭
We need Trump
About as much as we need a heart attack.
I hope he vers corona dictator
Do you mean we need Trump out of the office?
Government Manipulation + Free Market = No
I think it's a wake up call.i am assuming worse situation will arise upcoming future ......
how's your herbalife short doin bill
Lol 😂
didn't he got his money back tho
Whether or not Bill Ackman's position is greedy as some commenters here are saying, the point is that the action he is suggesting is something that all Americans with exposure to the whipsaw movements of the stock market can appreciate.
This is going to take months! 30 days is extremely narrow minded and ignorant!
All this ***cares about us making money 😫
Mr. President, the only way to save economy and stock market is to ban shorting stocks.
Great, let's guarantee that really ****companies like SNC and Bombardier get to hang around indefinitely instead of being pummelled as they should be by the market discipline of short selling.
And by the way, banning short selling makes Puts really, really valuable. Like Really valuable. So as an options trader, I say please. please, please ban away!!!!
That is the purpose of shorting, not hedge funds getting atrociously rich off a global crisis. It should be banned during crisis times.
and exactly with which money is the president supposed to put everyone on welfare Mr. Billionaire? the 22 trillion dollar of debt or maybe pull money out of near 66 billion dollars of unfunded pension funds? hmm....
all people want is that $1000 check for toilet paper..lmao BUY BITCOIN and wait until after may btc halving to occur
hahaha and what about repo and liquidity, the real problem side by side with repurchases in this fake economy since 2010
So he wants trump to shut down the US to save his portfolio? What a selfish greedy ********
Exactly.
Exactly, well said
Trump would love to do so if that really works
ackman is aggressively shorting the us stock market.
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