Bill Ackman took 'pretty large stake' in mystery company, then sold it - Business Insider

Hedge fund manager William Ackman of Pershing Square Capital Management smiles during an interview in New York September 27, 2010.Hedge-fund billionaire Bill Ackman bought into a mystery business during the coronavirus sell-off, but sold weeks later and invested in established holdings instead.

"We did take an, actually, pretty large stake in a company in the middle of the crisis at prices that looked very, very attractive," the Pershing Square chief said on an investor call on Wednesday. "We ended up selling that investment at about the price we paid as we felt more comfortable reinvesting," he added.

Ackman also said Chipotle was his "only big frustration" last quarter, as its stock halved at one point. Pershing was unable to buy the stock as it has a representative on the fast-casual chain's board.Billionaire investor Bill Ackman bought a big chunk of a mystery business during the market meltdown, only to sell it weeks later and double down on other holdings.

"We did take an, actually, pretty large stake in a company in the middle of the crisis at prices that looked very, very attractive," Ackman revealed during his Pershing Square hedge fund's"We ended up selling that investment at about the price we paid as we felt more comfortable reinvesting," he continued.

Its essential to our recovery that govt tax large pools of wealth to recirculate to consumers in the absence of work. Buying producing more American goods NOT stock market gambling key to broad recovery A 7% tax on trading would feed such a recovery while income tax can be dodged

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bill Ackman: Coronavirus 'hugely beneficial' for Amazon, big tech - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Uhhhh, not if ppl remain unemployed. BA laying off & saying more to come, retail biz shuttering or significant downsizing, airlines just waiting for September to start layoffs. I think he may be a few years too early on this call.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Investor Carl Icahn sells entire Hertz stake at almost $2 billion loss - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Во Имя БОГА, Любимого. Слава Возвышенному. БОГ один, нет божества другого. Идолы и поклоняющиеся им, будут растопкой для огня Ада. Они будут там стонать вечно, но никто не услышит их мольбу. Сколько бы Я Пророк не призывал, большинство народов беспечны. Не покорились БОГУ. Has he lost his touch? Lol Hertz needs to go under. Let the other company’s take over.
Source: BusinessInsider - 🏆 729. / 51 Read more »

UK Parliament voices cash infrastructure concerns - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The Internet of Medical Things report - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »