The Stock Market Tanked After This Billionaire Interview

Earlier this month, billionaire investor Bill Ackman awoke from a nightmare about the coronavirus and took to Twitter to recommend a shutdown of the country before calling CNBC. This according to an article in Forbes. “Hell is coming. Shut it down now,” he told CNBC in what the article described as a “frenzied 28-minute interview” in which Ackman advised the president to close the country for 30 days and shut the borders to stop the… Read More

Bill Ackman Pursuing Quiet Recovery

After a pair of “disastrous” bets on drug company Valeant and supplement company Herbalife, once “omnipresent rabble-rouser” shareholder activist William Ackman is getting back to basics and a more low-profile existence. This according to an article in The Wall Street Journal. The article reports that Ackman “has told his investors he is avoiding hard-to-understand companies, staying out of the media spotlight and returning to the basics of investment analysis that first catapulted him to success.”… Read More

Bill Ackman’s Possible Comeback and How Investors Could Benefit

The hedge fund titan that in recent years has endeared significant losses, and investor exodus and a failed activist campaign could be making a comeback, according to a recent article in Barron’s. Ackman’s publicly traded investment vehicle Pershing Square Holdings, the article reports, has gained more than 20% in asset value since March and, through July 10th, and was up over 10% on the year, “about double the return on the S&P 500 index.” The… Read More

Short-Seller John Hempton Taunts Ackman

An article in The Sydney Morning Herald offers a profile on Australian hedge fund manager and “fraud-hunting short seller” John Hempton, a self-described eccentric who, while known mostly for his short bets, says he makes his real profits from long-term stock picking. The article reports that Hempton’s firm, Bronte Capital Management, “has bet profitably against Valeant Pharmaceuticals International Inc. and made money on a stake in Herbalife Ltd., both of which pit him against Ackman.”… Read More

Bill Ackman Seeing Rapid Investor Redemptions

After three years of poor performance, Bill Ackman of Pershing Square Capital Management LP is losing investors at a clip and, according to a recent article in The Wall Street Journal, “facing a future that would no longer include managing a private hedge fund.” The Blackstone Group LP has been withdrawing cash from the fund, and JPMorgan Chase & Co.’s asset-management group has stopped recommending the fund, the article reports. Pershing’s assets have fallen from $20… Read More

Ackman Efforts to Boost Pershing Share Price May Not Work

Since May, Bill Ackman’s hedge fund has bought back more than 2.8 million shares of the publicly-traded version of its investment fund, according to a recent Bloomberg article, “essentially taking money clients gave him to invest and wagering it on himself.” But the article suggests that the move “could be another blunder among hedge funds fumbling for fresh ideas,” adding that the shares have lost value since. While buybacks are typically intended to boost share… Read More

Ackman’s Argues the Ill Effect of Index Funds on the Market

Barron’s reports on Pershing Square Capital manager Bill Ackman’s latest letter to shareholders, in which he sharply criticizes index funds. Ackman suggests that index funds are making the U.S like Japan, where the “system of cross-corporate ownership, the keiretsu, has been blamed for decades of Japanese corporate underperformance and market malaise.” He writes that “at current rates of inflows, it will not be long before index funds effectively control Corporate America and the corporations of… Read More