Today is our second day with a Shelter in Place order in San Francisco. Wall Street and the Economy seem to be in an ever continuing slide as the response by the United States is finally ramping up — but far too late.
As I’ve watched this train wreck of a response since January, I had no idea Bill Ackman and I had so much in common — minus the billion.
Both of us believe the only way to both stop the coronavirus and save the economy is to shut everything down right now! Let’s just take a vacation for a month and just get it over with. Have the Government at least pay all the rent, food, and utilities until we’ve stayed home long enough to stamp out the Coronavirus. Just like China.
The Equity Market just did not like Mr. Ackman’s sentiment. During Mr. Ackman’s impassioned plea to the President, the 7% down “circuit breaker” tripped on the S&P 500 causing another halt. This was the fourth time in the past two weeks we’ve halted for 15 minutes.
