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An unfortunate fact of the human condition is that sometimes we must plumb the depths of despair and depression, to be pushed to the very limits, to be beaten down and left for dead, to be cut off from all we know and love, before we can truly learn to appreciate that which we have and to enjoy once again the simpler pleasures of life. No one is better proof of this than Bill Ackman, who limped and crawled through some truly dark times before finding his new dawn. And what has the Pershing Square Capital Management chief discovered about himself on this other side? Well, that he wants nothing more than to sit in his futuristic Upper West Side aerie with his beautiful wife, dig into some comfort food and pop on a flick or some mindless, feel-good British cooking show. And he’s pretty sure the rest of us want the same thing.

Billionaire investor William Ackman said his hedge fund has acquired 3.1 million shares of Netflix Inc., attracted by a recent selloff of the streaming giant’s stock…. “I have long admired Reed Hastings and the remarkable company he and his team have built,” Mr. Ackman said of Netflix’s chairman and co-chief executive in a tweet Wednesday. “We are delighted that the market has presented us with this opportunity,” he wrote. Mr. Ackman was complimentary of the company’s business model in a letter included in his tweet and gave no indication that the investment would be an activist position.

And, as ever recently for Ackman, it’s working already.

Shares of Netflix Inc. bounced 4.8% in premarket trading Thursday, off a 22-month closing low in the previous session…. Ackman's announcement comes after the stock had plunged 30.3% amid a five-day losing streak, highlighted by the 21.8% selloff on Friday after a disappointing fourth-quarter report and outlook.

You know who’s not so sanguine about the future? Why, it’s Ackman’s former friend and current Ackmania sufferer David Einhorn.

Greenlight Capital’s David Einhorn said persistently high inflation is eventually going to tip the U.S. economy into another recession, regardless of what the Federal Reserve will do to combat surging prices.

William Ackman’s Hedge Fund Takes Stake in Netflix [WSJ]
Netflix stock bounces off 22-month low after Pershing Square hedge fund buys shares [MarketWatch]
David Einhorn predicts inflation will cause a recession, adds new positions [CNBC Pro]


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