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William Ackman
By admin - Posted on August 15th, 2008
Hedge fund manager William Ackman is counting on comebacks for Sears Holdings Corp. and Target Corp., even as earnings declined, in a bet against fellow investors who have sent short interest sales to record highs.
The 42-year-old founder of New York-based Pershing Square Capital Management LP has won these kinds of retail bets in the past, most recently in a gain of as much as $202 million on his against-the-market investment in Longs Drug Stores Corp.
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Hedge fund manager William Ackman is counting on comebacks for Sears Holdings Corp. and Target Corp., even as earnings declined, in a bet against fellow investors who have sent short interest sales to record highs.
The 42-year-old founder of New York-based Pershing Square Capital Management LP has won these kinds of retail bets in the past, most recently in a gain of as much as $202 million on his against-the-market investment in Longs Drug Stores Corp.
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By admin - Posted on July 23rd, 2008
Tagged: So you want to be a short-seller (or an activist). Here are some lessons gleaned from Pershing Square Capital founder William Ackman at WSJ's Deals & Deal Makers conference Wednesday.
So you want to be a short-seller (or an activist). Here are some lessons gleaned from Pershing Square Capital founder William Ackman at WSJ's Deals & Deal Makers conference Wednesday.
By admin - Posted on July 15th, 2008
Hedge fund manager William Ackman, who is betting against shares of Fannie Mae and Freddie Mac, criticized a government plan to shore up the mortgage-finance companies and said he proposed an alternative that would wipe out stockholders.
Hedge fund manager William Ackman, who is betting against shares of Fannie Mae and Freddie Mac, criticized a government plan to shore up the mortgage-finance companies and said he proposed an alternative that would wipe out stockholders.
By admin - Posted on June 11th, 2008
From the article:”Sears Holdings‘ annual meeting apparently turned into a battle of the hedge fund managers as William Ackman took Sears chairman Edward Lampert to task over the retailer’s performance.
“You’re the reason we’re here,” Mr. Ackman, the head of hedge fund Pershing Square Management told Mr. Lampert. “We think Sears is undervalued. Your disclosure is not as forthcoming as it should be.”
From the article:”Sears Holdings‘ annual meeting apparently turned into a battle of the hedge fund managers as William Ackman took Sears chairman Edward Lampert to task over the retailer’s performance.
“You’re the reason we’re here,” Mr. Ackman, the head of hedge fund Pershing Square Management told Mr. Lampert. “We think Sears is undervalued. Your disclosure is not as forthcoming as it should be.”
By admin - Posted on February 20th, 2008
Tagged: Pershing Square's Bill Ackman presented his plan for the bond insurers MBIA (MBI) and Ambac (ABK).
Pershing Square's Bill Ackman presented his plan for the bond insurers MBIA (MBI) and Ambac (ABK).
By admin - Posted on February 1st, 2008
Tagged: It was the $109,000 photocopying bill that hedge fund manager William Ackman says made him realize how much he'd read and underlined before betting against bond insurer MBIA Inc. in 2002.
His law firm charged him for copying 725,000 pages of financial statements and other documents, 140,000 of them about MBIA, to comply with a subpoena. Following New York and U.S. probes of his trading and reports, Ackman persisted in challenging MBIA's AAA credit rating for more than five years, based on his own research.
It was the $109,000 photocopying bill that hedge fund manager William Ackman says made him realize how much he'd read and underlined before betting against bond insurer MBIA Inc. in 2002.
His law firm charged him for copying 725,000 pages of financial statements and other documents, 140,000 of them about MBIA, to comply with a subpoena. Following New York and U.S. probes of his trading and reports, Ackman persisted in challenging MBIA's AAA credit rating for more than five years, based on his own research.
By admin - Posted on January 13th, 2008
Tagged: Bill Ackman's comments on MBIA & the bond insurers on Bloomberg TV
Bill Ackman's comments on MBIA & the bond insurers on Bloomberg TV
By admin - Posted on January 11th, 2008
William Ackman, whose Pershing Square Capital Management LP hedge fund returned 22 percent last year, increased his bet against MBIA Inc. and said the bond insurer may need to raise $10 billion in capital to protect its policyholders.
William Ackman, whose Pershing Square Capital Management LP hedge fund returned 22 percent last year, increased his bet against MBIA Inc. and said the bond insurer may need to raise $10 billion in capital to protect its policyholders.
By admin - Posted on December 16th, 2007
Just how much can one activist investor take? A lot, if your name is Bill Ackman.
Ackman's Pershing Square Capital Management does not quietly sit by as the companies it invests in go about their business. Each investment requires a different strategy: When he bought shares of McDonald's two years ago because he thought they were undervalued, Ackman reportedly spent a day behind the counter at a local franchise to see how the hamburger chain works.
Just how much can one activist investor take? A lot, if your name is Bill Ackman.
Ackman's Pershing Square Capital Management does not quietly sit by as the companies it invests in go about their business. Each investment requires a different strategy: When he bought shares of McDonald's two years ago because he thought they were undervalued, Ackman reportedly spent a day behind the counter at a local franchise to see how the hamburger chain works.
By admin - Posted on November 30th, 2007
At the Value Investing Congress, activist investor William Ackman, founder of hedge fund Pershing Square Capital, said he loves Target (NYSE: TGT) and he called the stock "extrodinarily cheap." Ackman said he now has a larger position in the retailer.
In a July 13D filing, Pershing Square controlled a 9.6% stake in Target, mostly through options. His latest filing showed Ackman owned about 3.5 million common shares of Target, or about 0.42% of the stock.
At the Value Investing Congress, activist investor William Ackman, founder of hedge fund Pershing Square Capital, said he loves Target (NYSE: TGT) and he called the stock "extrodinarily cheap." Ackman said he now has a larger position in the retailer.
In a July 13D filing, Pershing Square controlled a 9.6% stake in Target, mostly through options. His latest filing showed Ackman owned about 3.5 million common shares of Target, or about 0.42% of the stock.
