even bill ackman, i don't think he totally believes in this trade either. you know, that last trade really bailed him out. his fund was actually down 7%. this was the one trade that he bet on, he bet big on the corporations being hurt by the defaults and he won on that bet. but even on this bet, he seems half-hearted with it. this time we're not going all in, we're going in about 30% and basically, i hope i'm wrong, because what that tells me is that he's doing this -- liz: he did say that. >> yeah. you know, he's doing this as more of a hedge, and he kind of believes the market's going to go up but this is a just in case scenario. the worst thing for him obviously is this vaccine because the odds of the vaccine, low interest rates which we have been seeing, right, that's going to be an interesting thing. but you look at those bond yields, surprisingly, you look at the 30-year bonds, they are making the loans on the futures, the high on the yield, ten-year yields have been falling. i think that could chart a little bit. i think it's a little bit overdone. b

on one of courtney's ackman tapped flight at padua, low a mile a call. come back out. call ahead by law, flip the power out and call an election time get by and at least let anti-pattern al anon man include having one on. if it's be a noun, it you know i told i told it was a giant he had found he could clean it i'm reluctant to hear it seeing or how so if he had hi how 11 and what hands of mine how my how i had what i had a hard edge where, what i had need in the new need to know who saw the money and the courage out of our power and there for how the 110 you know, allowed in our power of us who know him had, can name well and good. seeing how i don't care and they're good enough for us. but the demick knows you know, borders and is blind to nationalities. it's just commentary crisis. what is interesting to moment we can do better, we should everyone is contributing each way. but we also know that this crisis will not go on forever. the challenges created, the response has been much so many good people are helping us. it makes us feel very proud that we are in it. toge

famed hedge fund manager bill ackman betting against the market. we have gary kaltbaum, phil blancato, we have joanne feeney. barry, whose side are you on here, who has it right, goldman sachs or bill ackman? >> i'm still trying to figure out today's action, let alone the 2020s. let me say this, i will give us a little bit of a negative, i wonder in the next year or so finally what central banks are doing is up and the markets finally, you know, give it the little repercussion for all the money printing. valuations are on the upper end here. i know the economy is going to get better. i'm just worried about valuations plus markets not caring about every little move they do. i think the markets may break out of range here. the dow, s&p, nasdaq take out old highs. i think we get a big run into the end of the year, probably first quarter of next year. charles: phil? >> [inaudible]. what you have right now culmination of things happening we had hoped for and now v the virus, two therapeutics or the virus being to a degree potentially controlled by two v

why are we listening to bill ackman? would say trade of his career in march this year when he made 2 $.7 billion on $27 million. people pay attention. he had the infamous hell is coming. people thought it indicated the bottom in march when he said that they're taking this with a grain of salt this time around. if he is bearish, maybe you should go bullish instead. maybe that will not happen this time around. ackman is putting done 8 billion -- million dollars. stuart: he is putting $8 million. susan: he said what he is paying insurance right now, same price now it was in march which is interesting. aren't we turning the corner on covid? shouldn't we be priced cheaper if that is the case? by the way he is buying into some stocks. buying in berkshire, starbucks lowe's. stuart: betting the market goes down. mr. ackman. jason katz is with us. good to see you again. >> morning. stuart: way want to raise i think are the two negatives for the market. the number one, the virus second wave is arriving. number two, proseconded ele

i don't think so >> how about this piece in the ft, guys, about bill ackman refreshing a bet against corporate credit, saying that in the near term, we're going to have some issues on highly levered companies. he does add -- i hope we lose money on this edge >> that's positive >> yeah. >> he's got to come on air and screen that one. >> we don't want to allow that >> no. >> no. >> why >> we had a lot written about this. >> how about spacs what happened to talking about spacs? >> you can talk about spacs all you want they're continuing there was a little bit of a perhaps just too much hitting the market at one time, number of them have not performed as well after they announced the deal but you got, you know, churchill 2 today brought in 400 million bucks for a deal that is under way for its churchill 2 spac but a little bit of pushback on spacs. >> churchill and the man who stood up to the germans and amazing speeches. >> yes >> splendid versus the vile and churchill 2. >> there is churchill 1 through 5, so i don't know which one i like the original churchill. the one whose name is wi

and so it's going to be a rough ride between now and then, and i should tell you bill ackman, i known investor who made a bet against the markets successfully before or right when co-vid was beginning just announced yesterday that he's remade that bet. he made 2.7 billion making that bet just in march, and he's doing it again, because he's worried that companies are going to go out of business over the next several months and year. >> i also note bill actikman on twitter urging president trump to accept the election results. i'm not sure if president trump listens to him, but why didn't the investor class care what the president is doing ? >> for better or worse, you know my personal views. i think for worse. the market as i said before, i think the view is that come next november we're not going to have not only -- we're going to hopefully not be wearing but the political issue will be behind us. for whatever reason, they're not putting into into their quote, unquote, risk model. that whatever you think of the worst case scenario, a coupe, a political dysfunction, civil unrest, that

bill, thanks for joining us back in march and i'm sure our viewers remember the same day that bill ackman was here talking about hell is coming, you said it was a once in a generation buying opportunity. is it a tougher call today >> well, yes, it's a much tougher call today because prices are very different than what we were back in march that's what made it so uniquely timely to make sure that people got invested right now the market is -- it's still a bull mark. i think that's one -- that's a message of the election. the extremes were kind of pared off. mr. biden, a much more let's say calm person and less confrontational than president trump and most of the policies that people in the markets are worried about are probably not going to happen. one of the risks in the market will be -- and i don't expect this to actually happen because i know that vice president biden and mitch mcconnell have known each other for decades and get along pretty well, so i think there's a good chance for kind of a ken terrorist set of policies with modest tax increases, if any, and then fiscal stimulus tha

if you are worried that moderna is going to cause a selloff -- >> bill ackman osaid that we would goll if we didn't do anything about it. >> but for him and everybody else, it was a good to buy >> it was played up, yes, it was played up, but actually i would argue not by him >> i don't think it was his finest moment, but he made $4 billion, $5 billion, whatever it was. time for the squawk planner. economic data due at 8:30 includes the weekly jobless claims and first read on inflation. the consumer price index we'll hear from cisco systems and disney after the closing bell and fed chair powell will speak at the european central banking forum at 11:45 today is the deadline for tiktok to strike a deal to a shutdown by the trump administration, but bytedance has won a legal battle that could halt the shutdown order. and the masters, golf tournament, i thought long and hard about wearing a really green tie. i'll never have a green jacket, closest i could come is a green tie, but it is today and it has been rescheduled from april. do you know what the difference is i think the days are mu

proceeds, $63 billion has been raised average about 365 million, much bigger ones over a billion ackmans with the biggest spac hasn't done anything yet, unclear what the universe is you have so much money chasing these potential companies that would look to go public you wonder if the quality will decline or if they'll look in different places sometimes you may have a funky ownership structure or some other things that are not necessarily conducive to a public offering, the traditional way that allow you to go the spac also want to align with one of the responsers wsponsors who hae in a particular area and can be additive to whatever deal it is that you are doing with them but that said, sometimes things also don't go particularly well. now, why are we seeing so many it is a pretty simple answer again, to use one of jim's terms, sotta vocce, you hear people say free money. that's what it is. just free money. you issued a spac, ten bucks, investors can say no, you can basically get -- have to refund, but if they do a deal, you as the spac sponsor are getting some percentage of that compan

if you look at what even a bill ackman, the heads that he recently put on, you know, masa son sayingion in cash, he's worried about a potential crisis jamie diamond doesn't think a financial crisis is coming how dependent is it on simply washington policy? >> i don't think a financial crisis is coming at all. i think the positive appreciation has been slowed by two things number one, i think there was a little bit of complacency as it relates to the resurgence of virus. i heard becky talking about this before we don't need restrictions from states and local municipalities. we're adjusting our behavior based on this resurgence already, and i think there was a little bit of a low expectation towards that so we're seeing a rise there and unfortunately it's not being met with the type of response that we responded with in q2 that allowed mash allowed markets to appreciate significantly. this is halting the appreciation, and i think at some point we'll get back to the positive trend for risk assets rightfully so because the liquidity that's in the system is supporting all risk assets. >>

i understand the contrarian would like to see more bears, i was happy to see bill ackman saying he'sall, if you look at the data, it's hard not to think we can't have a very strong 2021. stuart: i love to see it. charles payne, thanks for joining us. >> yeah. thanks a lot, stuart. stuart: the show is called "making money," 2 p.m. eastern this program -- sorry, this network, today. back to veterans day. over the past four years, president trump has put an emphasis on health care, employment and education for our veterans. hillary vaughn is in wilmington, delaware. hillary, what is biden's plan for veterans? >> reporter: stuart, well, president-elect joe biden's plan really focuses on reskilling veterans once they are done with deployment and making their skills suitable for the jobs of today. he's focusing on corporate mentorships and also, essentially, reaching out to ceos of large corporations to let them know what the perks are are for hiring veterans. but when you look at how veterans fared compared to when biden was in the administration four years ago serving as vice president u