Bill Ackman, founder of Pershing Square Capital Management, warned that stock markets are returning to a casino-like state as speculative trading grows, according to CNBC World.
"We're back to the casino-type markets when there was 95% leverage," Ackman said.
The comment ties current trading conditions to an earlier period of heavy borrowing in markets. The saved excerpt does not say which period Ackman meant, where or when he spoke, or what examples of speculation he cited.
CNBC World published the report on Nov. 3.
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Bill Ackman, founder of Pershing Square Capital Management, warned that stock markets are returning to a casino-like state as speculative trading grows.CNBC reports that Ackman said on 'Squawk Box' that he worries the market is 'broken'. He blamed speculative trading and leverage in the system for wild price swings.Bill Ackman warns of 'casino' stock market as speculative trading grows
Independent web check on Nov 3, 2026.
Checked by our verification desk on Nov 3, 2026. An editor approved the story before it was published.
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