FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid/File Photo
BOSTON (Reuters) – Billionaire investor William Ackman said a CNBC television interview he gave last week was not designed to profit from any trades, dismissing some media speculation he had purposely pushed markets lower to make money off his hedges.
“Our hedge had already paid off prior to my going on CNBC,” Ackman, wrote to his Pershing Square Capital Management investors late Thursday. “The idea that my appearance pushed the market down an additional 4% that day is absurd.”
Ackman told CNBC on March 18 that he thought the best approach to killing off the coronavirus was to close the borders and shut down the entire country, barring essential services, for 30 days. “Hell is coming, shut it down now,” he told CNBC.
The S&P 500 was off 6.5% when he began…