Key Takeaways
- • Bill Ackman, CEO of Pershing Square, told CNBC's Squawk Box that he does not see a roaring 1920s-style comparison in the current stock market.
- • The interview covered Pershing Square's third-quarter results, the midterm elections, the market outlook, the technology trade, and artificial intelligence.
- • The primary source available for this story is a brief video segment with a publisher summary, so the specific figures and detailed reasoning behind Ackman's views are not included in the source material.
Summary
Bill Ackman, chief executive of Pershing Square, said on CNBC's "Squawk Box" that he does not see a comparison between current stock market conditions and the roaring 1920s, according to the network's coverage of the interview. The segment, which aired on the morning of November 3, 2026, was framed around the headline comment and ran approximately five minutes.
The discussion ranged across several topics. Ackman addressed Pershing Square's third-quarter results, the upcoming midterm elections, his outlook for the broader market, the technology trade, and artificial intelligence. The 1920s comparison is a recurring reference point in market commentary, often used to question whether valuations and speculative enthusiasm have reached excessive levels, and Ackman's rejection of that analogy is the central message of the segment.
The source material does not include the specific valuation metrics, portfolio positions, or quantitative justifications Ackman offered for his view. Readers seeking those details should consult the full CNBC video or transcript. Pershing Square's third-quarter performance figures are likewise not reported in the available material.
The discussion ranged across several topics. Ackman addressed Pershing Square's third-quarter results, the upcoming midterm elections, his outlook for the broader market, the technology trade, and artificial intelligence. The 1920s comparison is a recurring reference point in market commentary, often used to question whether valuations and speculative enthusiasm have reached excessive levels, and Ackman's rejection of that analogy is the central message of the segment.
The source material does not include the specific valuation metrics, portfolio positions, or quantitative justifications Ackman offered for his view. Readers seeking those details should consult the full CNBC video or transcript. Pershing Square's third-quarter performance figures are likewise not reported in the available material.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.