KEY POINTS
  • Investor Bill Ackman said he's bullish on America over the long term, owning restaurants, hotels real estate development companies.
  • However, the billionaire said highly levered companies will have a hard time surviving as the country struggles to reopen fully.
  • "I'm cautious on markets over the next period of time. We have today a short position in a high-yield index. We are bearish on highly levered companies," Ackman said. 

Billionaire investor Bill Ackman told CNBC on Wednesday he's bullish on the U.S. and markets over the long term, but companies with a high debt will have a hard time surviving as the country struggles to reopen fully.

"We are long-term bullish on America; We are long-term bullish on the markets," Ackman said in a "Squawk Box" interview. "But I would say I'm cautious on markets over the next period of time. We have today a short position in a high-yield index. We are bearish on highly levered companies."