저자: BillAckman · 외국인
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2020년 3월 말 빌 애크먼이 트위터에서 트럼프 대통령에게 대규모 인프라 투자 프로그램을 촉구한 내용을 다룬 영상이다. 인프라 공사는 야외작업이라 사회적 거리두기가 가능하고 일자리 창출에 도움이 되며, 저리 장기 자금 조달과 원자재·인건비 하락으로 건설비도 낮아진다고 주장했다. 양당의 초당적 지지를 받을 수 있다는 점도 강조했다. 애크먼은 2017년 SALT 컨퍼런스에서도 미국 도로·공항·교량 등 인프라 투자 격차를 지적한 바 있다. 이번 발언은 그 연장선이다. 진행자들은 애크먼의 신뢰성 논란을 짚었다. 그는 코로나 사태 전 경기 우려를 표하며 신용부도스왑(CDS) 등으로 헤지해 약 2.6억(영상상 26억 달러 수준으로 언급)의 수익을 냈으나, 이는 공매도가 아닌 포트폴리오 보험 성격이었다는 설명이다. 이후 수익을 보유 종목에 재투자하고 스타벅스 등에 재진입했다. 출연자들은 그의 정책 영향력에 대해 의문을 제기했지만, 기업 리더가 아이디어를 공개적으로 제시하는 것 자체는 의미가 있다는 데 의견이 모였다. 영상에서 특정 종목의 가격 방향에 대한 명시적 예측은 나오지 않았다.
다듬은 글
we're going to turn our attention more inward not from China but to the United States because Bill Ackman is calling for a massive infrastructure spending program from the federal government Julie LaRoche wrote about this and has posted this live tell us more Julie about what Ackman is calling for hey Adam that's right in Bill Ackman the well-known hedge fund manager an activist investor who runs Pershing Square Capital who normally snaps up large stakes and big companies and pushes her change from management has been quite active lately it's bit unusual on Twitter just two weeks ago making news calling for President Trump to shut down the u.s.
except for essential businesses for 30 days here's what he's asking President Trump to do now on Twitter Bill Ackman tweets mr. president why don't you launch the biggest infrastructure program of all time now roads bridges and other infrastructure involve outdoor work that allows for social distancing doing so will put Americans back to work now in good pain virus safe jobs now Ackman also went on to tweet that this can be done relatively cheaply on pointing out that near zero cost long-term financing is available he also says that build costs will be lower because of lower commodity prices and less competition for labor he says we can rebuild America's infrastructure and help support the economy to enhance the recovery from the virus he also pointed out that President Trump would get unanimous support from this from both Democrats and Republicans and it gives us hope for the future he says let's get a good many of our fellow Americans working again in all 50 states while those of us with desk jobs work from home I'll also point out Adam this is not the first time that Ackman has brought up infrastructure I'm back at the 2017 salt conference which is hosted by Anthony scaramouche in skybridge capital scaramouche he asked Ackman using that activist mindset how could Trump turn around his presidency and at the time he said that he would do infrastructure that he point out this was bipartisan that this is something when you look at America and we've talked about this for many years if he seems like we're far behind on infrastructure our roads are terrible that's a fact that's something that's well known you've heard CEOs on conference calls complaining about our airports for exam our bridges our tunnels etc so there is an investment gap if you will when it comes to our infrastructure so Ackman I've known him for many many years yes I mention he's an activist investor also an activist in life and when he sees a problem he's going to identify it and speak up about it and now he's got this Twitter platform almost 100,000 followers getting quite a lot of attention lately Adam Julia I'm curious if he mentioned the fact that last week and a little bit before that when he was sounding alarms about the US economy and then made what over two billion dollars by shorting some of the market that it brought into question some of his credibility yeah is that because a lot yeah and Adam I think that's really important to address and I want to be very clear so on our air before we were all work from home Ackman had put out this letter about these large notional hedges that he had put on that had asymmetric payoffs he was very public about that he was worried about what was happening with the economy and the coronaviruses impact and put on these hedges at the time I thought maybe they were credit default swaps if you go back to the prior crisis Ahmed made his name in CBS that's exactly what he did now for those who aren't familiar and he's explained this credit default swaps are used as a kind of form of insurance on your portfolio so he put on the CD s it was twenty seven million that turned into proceeds of 2.6 billion it's not like he was actively shorting stocks to be clear now meanwhile Ackman's portfolio he has a handful of stocks but huge positions in handful stocks I'm talking about billion dollar-plus positions and just a small number of stocks like Berkshire Hathaway Hilton hotels restaurant brands Chipotle Agilent Technologies Lowe's etc and it's not like he sold off any stocks did not sell off stocks did not short stocks but use the CBS as a hedge portfolio insurance so they took the profits at 2.6 billion which is about equivalent to what they had lost on the portfolio going down about 30% on a market to market basis they put that money back to work in those stocks also re-entered Starbucks that was a very profitable position for Acme I'm sure he saw the levels and thought they are attractive this was not him and he said this was not him talking down the stock market he was genuinely worried he had been publicly bearish he is bullish on the idea that the Trump administration will do the right thing yes he called for a 30 days shutdown rate now you've seen that president just recently you know talking about extending those social distancing guidelines but you've seen a number of states a number of Governors who have actually enacted you know stay-at-home protocols for their various states so it seems to me the Ackman based on what our conversation on our air that he's confident that we'll get through this he saw buying opportunities just to clarify he was not short any individual stocks I mean the credit default swaps were things in like high-yield those sorts of things and he already exited huge position part of that position prior to that CNBC interview Adam Julia I'm gonna chime in if I can on this and I don't know if this is more of a question or a comment but just to play the skeptic a little bit not on the investing front but just the effectiveness front you know Bill a and yes is a well-known activist investor well-known investor period less known as a political activist right and I don't know what kind of poll he would have in Washington yes he has a big Twitter audience but now he does Nicole unless he's saying this stuff on Fox News perhaps I don't know if the president's gonna get the message or act on something like this so you have to wonder you know him using his platform in this way if it's actually gonna percolate and and get to some kind of actual actually you know you know it's interesting Julie I think this is an ongoing conversation and I would go back to you know whether or not he's a politician or whatnot and I think you are seeing leadership from business leaders who are at least speaking out and people want solutions and I and I feel like if you have ideas to sit quietly what good is that going to do people don't have to listen to your ideas but if you you have every right free speech free speech to voice your concerns voice your ideas on your platforms and the reason he's garnered such a following I mean that has to do with the way that he's built his brand run the way he's run his firm for the last couple of decades now I suppose at this point I'm not sure exactly how old Pershing Square isn't anymore but I mean at least the early 2000s they've been around so yeah I think if you have any ideas I mean I've seen other letters maybe people aren't necessarily going on air and talking about it that's a personal choice he had been off of financial TV for over a year at this point so I mean I don't know I don't know the answer to that well Julie LaRoche's article with Bill Ackman is posted Yahoo Finance comm you can read that hey investors sac
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