Bill Ackman says stock market a casino, flags 95% leverage
Business
Billionaire investor Bill Ackman thinks the stock market has gotten way too wild, calling it a "casino" in a recent CNBC chat.
He pointed out that speculative trading and massive borrowing (leverage is at 95%) are making prices swing all over the place, which he believes is bad news for both the economy and regular people.
Ackman's firm bought Microsoft Amazon Alphabet
Even though he's worried about risky trading habits, Ackman shared how his firm has used these ups and downs to grab undervalued stocks like Microsoft during tech sell-offs, Amazon after tariff scares, and Alphabet post-ChatGPT buzz.
He still believes in big names like Visa, Mastercard, and Netflix but warns that too much speculation could be dangerous for investors.