Didn't Ackman say he supports the Average Joe Plan? I thought there was an interview recently where he said he now supports Moelis instead. Although, I might be mixing him up with all the Congressmen that support the Average Jokester Plan.
I think we'll see Ackman Rotate completely out of Commons and into Preferreds. Everyone is front-running his fund's liquidation, so Commons will take a huge hit from here.
Add in Berkowitz shorting Commons and his legal team actively targeting Common bag-holders, things could get even uglier from here.
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