Bill Ackman, founder of Pershing Square Capital Management, expressed concerns about the stock market's current state, describing it as "broken" due to rampant speculative trading. Speaking on CNBC's "Squawk Box" on Tuesday, Ackman highlighted the wild price swings driven by excessive leverage in the system. While he acknowledged that the volatility presents buying opportunities for long-term investors, he cautioned that short-term speculation could be detrimental to broader market health.
Ackman pointed to high-quality companies like Microsoft, Amazon, Visa, Mastercard, and Netflix as examples where Pershing Square has found discounted prices amid the chaos. However, he emphasized that the irrational pricing and speculative behavior are not beneficial for the country as a whole. His remarks come as market participants navigate heightened uncertainty, particularly ahead of the 2026 midterm elections.