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SPAC-Man: Bill Ackman’s Pitching SPACs & Defending Profits

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Bill Ackman’s Pershing Square Capital Management sponsored the largest SPAC IPO in history, raising $4B in capital. In an exclusive CNBC interview, the hedge fund billionaire makes his pitch for the insider baseball market vehicle: the special-purpose acquisition company. “Much better for the issuer, much better for the shareholder, because they get to make a thoughtful decision that’s not rushed by the typical IPO process.” Plus, four months after his “Hell is coming” comments rocked the markets, Ackman, a famous short seller, explains why less than a week after that warning, he profited over $2 billion. 

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The Rush Limbaugh Show Podcast – Jul 22 2020

The US orders China to close its consulate in Houston, Texas as tensions between the two countries escalate. Twitter takes down 7,000 accounts tied to QAnon conspiracy theories. President Trump urges people to wear a face mask.