Ackman's Bait and Switch for Fannie and Freddie Bill Ackman, billionaire investor and head of Pershing Square Capital Management, has a history of profiting from his tweets.
On Sunday night, he posted that investors should ignore the Iran war and buy into Fannie Mae and Freddie Mac, which led to both stocks surging by as much as 41% in Monday trading.
Ackman's firm is the largest shareholder in both companies, holding over 210 million shares combined. His enthusiasm for Fannie and Freddie may be genuine, but it's also self serving.