Billionaire Bill Ackman: US Treasury Secretary's indifference to stock market and economic collapse is due to his long bond position

Bill Ackman, the billionaire founder and chief executive of Pershing Square Capital Management, wrote on the X platform: "I just figured out why U.S. Treasury Secretary Howard Lutnick is indifferent to the stock market and economic collapse. He and Cantor are long bonds. When our economy collapses, he can profit. It's a bad idea to choose someone whose company holds a lot of fixed income bonds as secretary of commerce. There is an irreconcilable conflict of interest."