PTY - Bill Ackman is betting big against the market again

To review, Ackman's Pershing Square made a killing earlier this year, paying a tiny premium to purchase corporate credit protection. When the pandemic panic hit, the value of that protection soared. At roughly the same time Ackman in mid-March appeared on CNBC, more or less in tears about how the world was ending, his team was cashing in on those bets, and plowing the profits back into equities at what turned out to be nearly the exact bottom.Legend has it that Pershing Square made $2.6B on the bet after paying only $27M in premiums. And that doesn't include the post-panic equity gains. Kudos.Appearing at a Financial Times conference yesterday, Ackman says investors have gotten too complacent about the pandemic, and he's put on basically the same trade as earlier this year, just smaller in size.Ackman: "We’re in a treacherous time generally and what’s fascinating is the same bet we put

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Bill Ackman is betting big against the market again