re: Globe Life -53% Five Billion Dollars in value wiped out

Bill Ackman, but stocks were already down 7% that day before he went on CNBC. He basically said the country should stop for 30 days instead of the 18-month half hearted slowdown that would happen with our current approach. He was pretty emotional but his entire point was the country couldn’t withstand half-assed measures for 18 months and we should just rip the bandaid off and stop for a much smaller window.

He also was 3 trading days away from the bottom. Over the next 3 days stocks fell another 5.4% from his CNBC interview and have since more than doubled.

Ackman is pretty hard to blame for the pain that had already happened in the market, even if he was overboard.