Bill Ackman appeared on CNBC this morning “disputing” some of the points David Tepper made yesterday about the state of the market.
CNBC: David Tepper: Good time to take money off the table.
Ackman said in the interview that he is more optimistic about the outlook for stocks than David Tepper as valuations remain attractive. Ackman told CNBC that he believes, “stocks are pretty cheap,” and currency fluctuations have been largely reflected in Wall Street’s forecasts for the next year.
Ackman’s hedge fund, Pershing Square Holdings, Ltd. fell 9% during August amid the market turmoil, wiping out the fund’s gains for the year.
Bill Ackman: Long-term
As a long-term investor, Ackman went on to state that he’s not bothered about short-term market movements.
[drizzle]
“I can’t...
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