For the past few years, it seemed as if everyone on X was making fun of Bill Ackman. Mostly this was because the billionaire investor was on X too much. Even worse, he was posting a lot. Ackman wrote very, very long posts on seemingly everything — protests on college campuses, the scourge of academic plagiarism, the “dangerous” nature of a socialist mayor — with a haughty tone, as if it were up to him to choose the path forward for young Americans.

Considering his recent positioning as a heel for liberals on X, it could be easy to forget that Ackman had previously been good at something: making money. Aside from a few catastrophically bad investments, he has brought in some dizzying amounts at his hedge fund, Pershing Square Capital Management — such as his $2.6 billion return on a $27 million bet on March 3, 2020, that the stock market would crash. Ackman is personally worth $9 billion, and Pershing has........

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