Bill Ackman tells Bloomberg he’s pulled all of his hedges (mostly shorts in the credit market), and taken the $2.5B in proceeds to buy stocks.
“About the most bullish thing we’ve done … We are all long. No shorts.”
Among his buys are existing Pershing portfolio longs like Starbucks (NASDAQ:SBUX), Hilton (NYSE:HLT), and Berkshire Hathaway (BRK.A, BRK.B). He did not add to his Chipotle (NYSE:CMG) stake, saying the stock is trading at a “crazy” price.
“The president and his team are heading in the right direction.”
https://seekingalpha.com/news/3554774-ackman-goes-all-in-on-recovery
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