nonetheless, a very scary statement from legendary investor bill ackman.up, if you want some fundamental help, you usually want to look to earnings season, but there are questions as to whether that will provide any clarity for you. we will break that down with lauren goodwin of new york life. this is bloomberg. ♪ ♪ alix: welcome to "bloomberg daybreak." i'm alix steel. ands&p approaching approachable market over the past two days. , also seeing a nice follows her rally. the dollar now per dissipating in that risk on feel, sliding -- now participating in that risk on feel. the vix now comes down. oil holding onto its games. exxon cutting by about 30%. for more on the markets, i am joined by lauren goodwin, new economistinvestments and multi-asset portfolio strategist. usually i love earnings season, and it is a relief to get a good fundamental window into companies. how do you view at this time ?hen we have zero clarity lauren: you said it, we are going to have zero clarity. matters for the market, and especially equity , what do the next couple of quarter

bill gates is saying what bill ackman said two weeks ago and the president hasn't listened. maybe he will listen to bill gates. connell: the president last night, jonathan, was different. that was a different tone we saw from him. seemed certainly he shifted in his strategy. in florida where governor desantis did not shut down the entire state, to deion's approach, you had county by county approach to this. finally today you have something more consistent. how would you work that into your economic fears or projections once we get through all this? >> i think being healthy and wealthy, they're correlated, connell. we cannot be healthy as a country if we are not wealthy as a country. bill gates predicted this in 2015. he predicted pandemics. he is really a genius on this but i think his solution is only half right. this notion of a mandatory, essentially forced quarantine, connell, takes out the whole context. in texas for example, is very different than new york city. it also takes out creativity of business. look if we shut down deliveries, food, fuel, the wheels of economy

going to see plunder at the bottom you can see the looting at the bottom when you have guys like bill ackman plundering obviously plundering the system and. and a whole a show of hoax and fraud you know why should we expect the apolo a and the platypus not so it equal measures of plunder well i suppose that there's going to be a certain amount of disorder and that will include a reaction against this kind of plunder and this kind of opportunism we must bear in mind the fact that there are you know scores of millions of americans out there who are not in finance and not in political power but who are plenty smart plenty intelligent enough to know when they're being played and they're pretty well armed . and you know sooner or later some of the disorder that we're inviting into our lives is going to express itself in probably an angry rebellion this is this is certainly the most this is the this is the moment of the greatest uncertainty in our lifetimes and it's hard to say where this is going to go but the potential for disorder is really enormous always sought a movement started with the occ

billionaire investor bill ackman considered liquidating his portfolio.tead, he opted to bet on a credit hedge. when the market plunged it earned about $2.6 billion in profits. airbnb raising $1 billion in debt and equity. outbreakavirus hammering airbnb and the disease has made a possible ipo this year uncertain. that is your bloomberg business flash. ,uy: if you have a bloomberg check out this function, tv . you can watch all the interviews we have been doing on bloomberg and some great guests are lined up. live events. you can interact with tom and i directly as well. tv . this is bloomberg. ♪ ♪ guy: i am guy johnson in london, tom keene in new york by the park in manhattan. ours get back to conversation with ron temple of lazard asset let's talk about what is happening in the markets. the equity markets have been particular and there seems to be the temp tatian of seeing any flattening of the contagion -- temp tatian of seeing any -- ion of seeing any flattening of the contagion -- and a sense of where we are and how we should relate the virus

. >>> welcome back just over two weeks ago, hedge fund manager bill ackman said hell was yet to come the ceo publishing the 2019 annual report last night last year, saw an annual return of 58.1% p pershing square's highest return a couple of challenged years in between. in the record, pershing square announced a buy back of $100 billion shares after a health play that began in early march and fully exited and ackman has been reinvesting capital he said he has increased stakes in agilent by 16%. berkshire hathaway by 39%. hilton by 34%. hues by 36%. lowes 46% and restaurant brands. and reestablishing capital position of 10% in starbucks saying we believe the factors for a stock market recovery are coming into view the fund is up 3.3% up in a market we all know so well that is down. over to you. >> we might have seen some better market action 600 points yesterday, 900 today, so bill is sniffing something out there. that's good. if we had been down somewhere, we may be checking futures more than now coming up, more on yesterday's rally with the major indices up seven. the dow up eight t

this collapse versus, say, '08, was that by the time we bottomed it, whatever, 2180, i call it the bill ackmantom the liquidation was almost complete partly because the fed provided so much liquidity, people, if they wanted to sell could sell in '08 i had tons of mortgage and there was no bid so you never got yourself flat, and here anyone that wanted to get out could go out because the fed put so much foam on the market. >> you are down. >> some stocks bounced 7%. right now i think we'll trade soggy and i think we can trade back to 2600 i don't think we put in new lows the liquidation was complete and not that much stock for people to sell, but the economy stinks and it's going to stink for a while, and so, you know, fundamentals will weigh on the market so i kind of thing that at 2200 and the 300 range on the wide and the tighter range, we're 2900 and 2600 and so i sold a bunch of top and i'll buy them back at 2600 and look for other opportunities in commodities and currencies. >> michael, great to speak with you. thanks for your time >> you, as well. >> michael novogratz guy adami, how do w

i thought one of the fascinating things with bill ackman, the hedge funder, first tells us hell is onnext thing he says i'm optimistic about the markets. he's been accused of playing the other side of the fence, if you will, going against the general tone. look, if you were watching the peak in cases, so many of us in the markets are watching the numbers coming, especially out of new york. you had another optimistic press conference with governor cuomo today. maybe the fatality rate seems to be flattening out. still, there are deaths happening every day which is horrible. your friend survived which i was thrilled to hear about, but at the same time, we are watching for these cases to kind of come down and also in europe, there's been some cases that have calmed down as well. i think that's been interesting. but look, the dow for the year so far, i will send it back to you, we are down 26% and change. how much lower can you go? come on. really, especially when we know what we are dealing with now. charles: i agree. i agree. cheryl, thank you very much. i want to bring in wealth enhance

this is a long time ago on jcp, which has been suffering since bill ackman. >> is bill sad is he still don't know. >> he didn't get the check -- he won't get the donald trump signed check >> no. >> he won't go to dollar general. he won't be doing that >> that's true >> dollar general has wipes. >> on the subject of amazon and facebook and google, guys, we did talk about amazon, of course, because of the strength certainly of its overall business aws is seen as more of a jewel as ever before but the advertising part of the business which has been growing dramatically and is an important profitable part of the business given the margins there and more so with google and more so with facebook, i do wonder given the reliance on small and medium-sized businesses in terms of advertising what the hit will be for those companies in that area >> good point. i know facebook is saying things have not been strong if things get better, then facebook might be the one to buy. if you're pessimist, facebook is the one to sell. there was a fellow this morning on "squawk" who said we'll have a v. the thi

admitted that i thought saying he sees it as a "u" or potentially an "l" recovery >> that's the fear bill ackman, march 23rd was that day. take a look on the charts and you see that was the "l" day i think a lot of people have come back to either a "u" or a fear of a "w" if we go back too soon i feel like if i can't ever mention the word testing again that's all people talk about and the mortality rate there was one day in new york that spiked but the mortality rates in general are higher than people thought even, say, six weeks ago, and i don't want to extrapolate too much what happened yesterday in new york it was wild high but it is part of the equation when you hear mr. gorman come on and speak, and he sounds like he did before, i found it reassuring maybe it's the slim reading but it's nice to see a guy back at work >> indeed. jim, highly transmissable, and relatively fatal for sure. jim, what's on mad tonight >> one of the greatest insurance companies in the world is chubb. let's find out what they're thinking mike -- a testing company, agilent because testing is the solution i think we're

question if it works, we'll do it if it doesn't, we'll try to see you tomorrow and the question is, bill ackman last night, i believe it was last night, about therapy taking place using pepcid having some success do you know anything about it. >> there's a trial under way in new york using pepcid. this comes out of china where people were given high doses we'll be able to turn over the card on that data pretty soon. these were people given high doses who are critical patients. i wouldn't recommend people use this on an outpatient basis. there is some data that supported going forward in the clinical trial. >> another question i have for you is another piece from the weekend from "the new yorker," juxtapose the way seattle and the state of washington and how new york and the governor and mayor handled this and talking about how in washington state, scientists led the process and in new york it was political i just wanted you to weigh in on that and whether you think that really was the -- is the reason that there is such a juxtaposition between those two states and what the ultimate outcome has