Crypto exec Michael Novogratz disagrees with billionaire investor Bill Ackman's coronavirus warning, calling it a 'panic' — but they agree people need to get back to work in 4 weeks
Michael Novogratz, former president and director, Fortress Investment Group LLC, speaks at the SALT conference in Las Vegas May 15, 2014.Famed investor and crypto crusader Michael Novogratz said on Friday that the reaction to the novel coronavirus is overblown.Novo, as he's known on Wall Street, scoffed at billionaire Bill Ackman's "hell is coming" prediction on Wednesday, which sent already wobbly markets downward.
on CNBC on Wednesday warned of large-scale casualties, cratering industries, and a deep recession if the US government doesn't impose a nationwide shutdown to stem the spread of COVID-19. Ackman's remarks, including that "hell is coming," sent already shaky markets tumbling further that day.
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