Bill Ackman told spooked investors to get over the Iran war and buy Fannie and Freddie. Stocks surged 40% the next day

CEO and Portfolio Manager Pershing Square Capital Management L.P. William Ackman speaks at The New York Times DealBook Conference at Jazz at Lincoln Center on November 10, 2016 in New York City. (Credit: Bryan Bedder—Getty Images)

Fannie Mae and Freddie Mac, the two government-sponsored businesses designed to prop up mortgages, ripped on Monday after billionaire investor Bill Ackman told investors in a late Sunday X post to stop worrying about the war in Iran and start buying.

“Some of the highest quality businesses in the world are trading at extremely cheap prices,” Ackman wrote. “Ignore the MSM [mainstream media]. One of the most one-sided wars in history that will end well for the U.S. and the world. And we have the potential for a large peace dividend.”