Part of our core mission?

Exposing the Left's blatant hypocrisy. Help us continue the fight and support the 2020 Year-End Campaign now.

Thomas Gallatin / Mar. 31, 2020

Leftist Billionaire Rakes in Billions After Stoking Pandemic Fears

Hedge-fund manager Bill Ackman turns a massive profit after imploring Trump to shut country down.

“Everyone feels, you know, 99% I’ll be okay! But it’s not you; it’s the person you give it to,” declared billionaire hedge-fund manager Bill Ackman in a CNBC interview on March 17, as he called for President Donald Trump to shut the country down for 30 days in light of the China Virus pandemic. Ackman, a longtime Democrat donor who endorsed Michael Bloomberg for president, then got emotional, adding, “I am not going to kill my father, okay!” He further claimed that he had personally locked down in late February after learning how deadly the pandemic was.

Ackman’s emotional plea evoked a critical response, as many noted his statements would only further damage an already hurting market. Former hedge-fund manager Michael Novogratz quipped, “Please Ackman get off CNBC before people start jumping off bridges.”

However, it has now come to light that Ackman’s melodramatic interview may have been more Hollywood than genuine. Days before his CNBC interview, Ackman set up a $27 million hedge that subsequently scored big as the market tumbled on spreading pandemic fear.

And just how big was Ackman’s score? Well, in a letter sent to investors in his Pershing Square Capital Management fund last Wednesday, Ackman noted that he had cashed out a credit hedge to the tune of $2.6 billion in profit. That profit margin prompted one trader to observe, “It looks like a hell of a trade. I guess Bill was crying on TV for a lot of reasons. Tears of joy.”

Ackman sought to downplay criticism of his having profited off of stoking pandemic fears. He told investors that “substantially all of the proceeds” would be used to “purchase more stocks in current investments.” Ah, so stoking fears that led to massive profits on market panic is okay since those profits will be used for buying stocks in hurting industries, like hotels and restaurants? It is profiteers like Ackman who give capitalism a bad name.

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2020 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.