Michael P. Regan, Columnist

Bill Ackman's Hair Is Trade of the Week

The hedge-fund manager's Valeant loss, Wall Street's bullish turn and other observations.

October 23, 2015 at 6:23 PM UTC

Michael P. Regan is the global team leader for cryptocurrencies at Bloomberg as well as a former senior markets editor and former Americas team leader for Bloomberg's Markets Live blog. He has covered Wall Street for Bloomberg News as a columnist and editor since 2007. He previously worked for the Associated Press.

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Some former intelligence officers gave an interesting critique of the Benghazi investigations this week for Foreign Policy, but there was a line that seems appropriate for Wall Street too: "From within the punchbowl, everything around us looked like punch."

If you happened to be immersed in the stock market in August, staring at screens where the prices were all turning that nasty Hawaiian Punch red, it may have started to look like the world -- or at least the bull market -- was ending. Yet lo and behold, we get robust earnings from Alphabet, Amazon.com and Microsoft and it turns out the entire planet did not actually retreat to their underground bunkers to repent before the financial Rapture that has been prophesied by seemingly half of the Internet.