Scores by kind of claim
Each kind of claim is scored on its own, out of 100: the share that held up, with the range it likely falls in. Fewer resolved claims give a wider range.
-
Factual claims
Statements about the present or the past, checked against the record: did they hold up?
76 70 81 -
Predictions
Statements about events outside the person's control, checked once they fell due: did they come true?
68 54 82 -
Promises
Commitments to the person's or organisation's own future action, with something to deliver: was it delivered?
Insufficient record: 3 promises resolved, 5 needed for a score.
All types combined: 74 (likely 69 to 80, high confidence), from 96 claims: 82 factual claims, 14 predictions. It mixes kinds of claim in different proportions for different people, so compare people kind by kind.
Bill Ackman's claims
3 claims
| Verdict | Kind | Said | Claim | Topic |
|---|---|---|---|---|
| Mostly false | Factual | 12 Aug 2026 | U.S. mortgage origination volumes are still about 50% below long-term averages. Factual · 12 Aug 2026 | Economics and markets |
| Mostly false | Factual | 21 Jul 2014 | Herbalife's so-called nutritional clubs are not places where people get together to talk about losing weight. Factual · 21 Jul 2014 | Economics and markets |
| Mostly false | Factual | 5 May 2014 | Fannie Mae and Freddie Mac are more important today in the mortgage market than they have ever been. Factual · 5 May 2014 | Economics and markets |
“With U.S. origination volumes still ~50% below long-term averages, we view the segment as a call option on their eventual recovery.”
Pershing Square Holdings, Investment Manager letter 12 August 2026 Pershing Square H1 2026 Letter To Shareholders (Seeking Alpha)
U.S. mortgage origination volumes are still about 50% below long-term averages.
Mostly false False in substance, right in a detail.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Judge as of 2026-08-12. The claim is that US mortgage origination volume is about 50% below its long-term average. Take recent annualised or 2025–2026 origination volume (dollar or unit) and compare it with a long-term average. True: origination is about 40–60% below the average for a reasonable long-term period. Mostly true: about 30–40% or 60–70% below. Mixed: origination is depressed but only about 20–30% below, or the result depends heavily on the measure or period chosen. Mostly false: origination is only modestly below (under about 20%). False: origination is at or above long-term averages.
Evidence
- United States Mortgage Originations Trading Economics (citing Federal Reserve Bank of New York) · 30 June 2026
“Mortgage Originations in the United States averaged 570.92 Billion USD from 2003 until 2026, reaching an all time high of 1217.80 Billion USD in the second quarter of 2021 and a record low of 285.72 Billion USD in the second quarter of 2014.”
- United States Mortgage Originations Trading Economics (citing Federal Reserve Bank of New York) · 30 June 2026
“Mortgage Originations in the United States decreased to 504.64 Billion USD in the second quarter of 2026 from 529.80 Billion USD in the first quarter of 2026.”
- Mortgage Origination Volume (Q2 2026): $504.6 billion American Default · 30 June 2026
“The New York Fed counted $504.6 billion for the second quarter of 2026, up from $458.3 billion in the second quarter of 2025.”
- Mortgage Origination Volume (Q2 2026): $504.6 billion American Default · 30 June 2026
“Of 94 quarters since 2003, it ranks 46th largest, in dollars not adjusted for inflation.”
Reasoning
New York Fed data via Trading Economics put US mortgage originations at $504.64 billion in Q2 2026 and $529.80 billion in Q1 2026 [E2]. The 2003–2026 quarterly average was $570.92 billion [E1], so recent volume is roughly 7–12% below that average, not about 50%. American Default ranks Q2 2026 46th of 94 quarters since 2003 in nominal dollars [E4], which puts it near the middle of the range, and it reports volume up from $458.3 billion a year earlier [E3]. These are nominal-dollar figures, and the evidence gives no inflation-adjusted or unit-based measure. On the measure available, origination is only modestly below its long-term average.
Cite this claim
Bill Ackman, “U.S. mortgage origination volumes are still about 50% below long-term averages.” (said 12 August 2026). Verdict: mostly false. Reliability API, claim c_811415dc13f3, method 0.1.0+c876030c. https://epistacklabs.com/claims/c_811415dc13f3
Claims without a verdict
- Unresolvable 135
- Not yet due 9
- Own records only 29
- Not researched 162
- Not checkable 431
Is a verdict here wrong, or do you speak for Bill Ackman? Reply on the claim's own page, with the form at its foot (how replies work). Verdicts are made automatically; how verdicts and scores are made.