Ackman warned that "hell is coming" then used his $2 billion in proceeds from his bet against the market to add to stakes including Hilton Worldwide and Lowe's.
www.cnbc.com
Bill Ackman turned a net profit of more than $2 billion on Monday after he sold his bets against the market less than one week after warning CNBC that "hell is coming"
He then used those proceeds to wager that existing Pershing bets, including hotel operator Hilton Worldwide, would rebound.
The Ackman about-face came less than one week after he told CNBC that the United States was in jeopardy unless the White House closed the country.
That he added to his Hilton position using the money he earned from his bets against the market is notable after saying the stock could be headed to zero.