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.
No. I am long America and he is short. I am aligned with our country and our economy and he is short.
— Bill Ackman (@BillAckman) April 7, 2025
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.
Bill Ackman is an even better bottom indicator than Jim Cramer
HT @FinFluentialx https://t.co/WYSc7ymp87 pic.twitter.com/hTcfEC9wIv
— Financelot (@FinanceLancelot) April 7, 2025
I just figured out why @BillAckman was enthusiastically encouraging a market crash in 2020 but is hysterically against it in 2025
He was short, now he’s long https://t.co/3rav8Te6vj pic.twitter.com/tCrRiRam2S
— Ragnar (@pikeypilled) April 7, 2025
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