Activist investor Bill Ackman said he has made a "recovery bet" on the US economy, investing $2.5bn (€2.32bn) in a little over a week and half in equities, including upping his positions in several of his portfolio companies and reinvesting in others like Starbucks Corp.
The billionaire investor said he has taken off all the hedges that he put in place for his Pershing Square Capital Management, through shorts in the credit market. Those hedges were put in place to offset the effects of the coronavirus, he said.
Mr Ackman said his hedge fund has used the proceeds to reinvest over the past 10 to 12 days in several of his portfolio companies, including Lowe's, Hilton Worldwide Holdings and Warren Buffett's Berkshire Hathaway.
"That's about the most bullish thing we've done," he said in a Bloomberg TV interview.
"We are all long. No shorts, you know, betting on the country."
Mr Ackman has called for a federal shutdown of the country over the next 30 days rather than letting individual states implement their own measures for tackling the outbreak of the coronavirus.
He reiterated that call yesterday and urged for increased testing for the virus across the country.
He also said he has gained more confidence that US President Donald Trump and his team were moving in the right direction.