The “biggest mistake” Democrats have made is stoking President Joe Biden’s “false confidence” that he can win another term in the Oval Office, billionaire hedge fund manager Bill Ackman warned.

In a post on X, the founder and CEO of Pershing Square Capital Management, said the support has blocked “better and younger candidates to emerge.”

“The biggest mistake Democrats have made is supporting … Biden for a second term,” he wrote Monday, asserting that “by supporting Biden, they have given him false confidence that he can win the race.”

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