Bill Ackman is an investor.
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Bill Ackman, a billionaire investor and hedge fund boss, said it's bullish for stocks if the Omicron COVID-19 variant causes mild symptoms, but bearish for the bond market.
The Omicron virus causes mild to moderate symptoms and is more transmissible, according to early reports. If this is true, this is bullish for markets.
I should have said that I was bullish for the equity market and bearish for the bond market.
The founder and CEO of the hedge fund, Ackman, made more than $2 billion through savvy trading at the time of the first coronaviruses-driven market sell-off in March 2020.
The economic impact of Omicron, a COVID-19 variant recently identified in southern Africa that is spreading globally, is being assessed by investors around the world.
The S&P 500 dropped 2.27% on Friday, its worst day since February.
US futures rose on Monday as traders waited for more information about Omicron.
According to reports over the weekend, a doctor in South Africa who was among the first to raise the alarm about a new variant has said that the symptoms she has seen in patients so far have been very mild.
The World Health Organization said in a statement Sunday that it is not yet clear if Omicron causes more severe disease than other infections.
After warning that "hell is coming", Ackman made a profit of more than $2 billion in about a month as the coronaviruses first shook markets in March 2020.
He put some of the money back into the stock market at cheap prices, setting him up for another big win after the stock market went up on the back of theStimulus packages.
In the wake of Omicron, traders are expecting central banks to be more reluctant to withdraw their support for economies. The tendency of investors to buy the dip is one factor supporting stocks Monday.
"Our initial line of thinking is that market weakness around a new variant creates an opportunity to increase risk in portfolios."
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Business Insider has an original article.
