The David Rubenstein Show Bill Ackman
Dec 7, 2023
Bill Ackman, CEO and Founder of Pershing Square Capital Management, discusses the 2024 US presidential candidates, AI, and the state of Harvard after anti-Israel protests. He also talks about the economy, debt repricing concerns, his philanthropy and political involvement, past successful bets, and the hiring process for his firm. A fascinating conversation on 'The David Rubenstein Show'.
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Economic Concerns
- The economy is weakening due to low interest rates and fixed-rate debt.
- Repricing debt, especially in real estate, could have a cliff-like effect.
Fed Rate Cuts
- The Federal Reserve is likely to cut rates sooner than expected, possibly as early as Q1.
- High real interest rates, as inflation declines, are retarding the economy.
Biden's Presidency
- Bill Ackman believes President Biden has passed his prime and should step aside.
- He suggests Biden's legacy won't be favorable if he runs again.