Is this ‘the beginning of the end?’ Billionaire Bill Ackman shares his thoughts on the big market retreat
Billionaire hedge-fund giant Bill Ackman was asked on Thursday whether the nasty market rout that dragged the tech-heavy Nasdaq Composite down 5% is about to usher in a dark stretch for stocks.
His answer was no. But also, maybe.
The Pershing Square Capital CEO explained in an interview with Bloomberg TV that the upcoming presidential election and the fracture it’s already caused across the U.S. will only create more uncertainty in the coming weeks and months.
Tech stocks, most notably, with their “extraordinary” valuations could be vulnerable, he said. Apple AAPL, -8.00% and Tesla TSLA, -9.02%, notably, have been tech leaders during the market rebound from the initial plunge in response to the coronavirus pandemic. But both were hit hard on Thursday.
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https://www.marketwatch.com/story/is-thi...quote_news
Billionaire hedge-fund giant Bill Ackman was asked on Thursday whether the nasty market rout that dragged the tech-heavy Nasdaq Composite down 5% is about to usher in a dark stretch for stocks.
His answer was no. But also, maybe.
The Pershing Square Capital CEO explained in an interview with Bloomberg TV that the upcoming presidential election and the fracture it’s already caused across the U.S. will only create more uncertainty in the coming weeks and months.
Tech stocks, most notably, with their “extraordinary” valuations could be vulnerable, he said. Apple AAPL, -8.00% and Tesla TSLA, -9.02%, notably, have been tech leaders during the market rebound from the initial plunge in response to the coronavirus pandemic. But both were hit hard on Thursday.
...
https://www.marketwatch.com/story/is-thi...quote_news
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