Bill Ackman turned $27 million into $2.6 billion as the coronavirus ravaged markets. Here are 12 of his most insightful quotes.

• Pershing Square Capital Management founder Bill Ackman was known for colorful statements well before his notorious March 18 CNBC interview.
• The billionaire investor is among the few to win out through the tumultuous first quarter, turning a $27 million bet on credit protection into $2.6 billion when coronavirus risks caught up with the financial sector.
• Some commentators allege Ackman’s emotional 30-minute CNBC appearance was made to boost his investments, though the fund manager has rebuked such claims.
• Here are 12 of Bill Ackman’s most insightful quotes on markets, investing, and business strategy.
• Visit the Business Insider homepage for more stories.

Bill Ackman made headlines in March for a passionate 30-minute CNBC interview, but his penchant for remarkable statements isn’t new.

The Pershing Square Capital Management founder is hot off a stellar first quarter, turning a $27 million position into $2.6 billion through credit protection assets in late March. When markets tanked on fresh coronavirus worries and debt ratings deteriorated, Ackman made enough profits to offset losses elsewhere in his portfolio.

The hedge fund manager was among the billionaires warning of outsized economic catastrophe should the US fail to properly combat the pandemic. His dire forecasts in a March 18 CNBC appearance helped push the stock market to intraday lows and drew allegations of fearmongering to boost his credit bets.

Ackman later clarified in a tweet that he believed the White House would properly address the health crisis.

“If that happens, we can win the war against the virus and the markets and the economy will soar,” he wrote.

The billionaire has been quieter lately, but several of the remarks Ackman has made throughout his career still ring true amid volatile markets and the sharp economic downturn.

Here are 12 of Bill Ackman’s most insightful quotes on markets, investing, and business strategy.

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