BILL ACKMAN SETS MONETARY POLICY FOR THE UNITED STATES?
Published at : November 24, 2021
1. In December 2012, Ackman issued a research report that was critical of Herbalife's multi-level marketing business model, calling it a pyramid scheme. Ackman disclosed that his hedge fund, Pershing Square Capital Management, sold short the company's shares directly (not with derivatives) starting in May 2012, causing Herbalife's stock price to drop.
2. 'Hell is coming': how Bill Ackman's TV interview tanked the markets and made him $2.6bn during COVID off 27 million (s)
William Albert Ackman (born May 11, 1966) is an American investor and hedge fund manager. He is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. His investment approach makes him an activist investor.
Ackman was raised in Chappaqua, New York, the son of Ronnie I. (née Posner) and Lawrence David Ackman, the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. He is of Ashkenazi Jewish descent. In 1988, he received a Bachelor of Arts degree magna cum laude in Social Studies from Harvard College. His thesis was "Scaling the Ivy Wall: the Jewish and Asian American Experience in Harvard Admissions." In 1992, he received an MBA from Harvard Business School.
Ackman was raised in Chappaqua, New York, the son of Ronnie I. (née Posner) and Lawrence David Ackman, the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. He is of Ashkenazi Jewish descent. In 1988, he received a Bachelor of Arts degree magna cum laude in Social Studies from Harvard College. His thesis was "Scaling the Ivy Wall: the Jewish and Asian American Experience in Harvard Admissions." In 1992, he received an MBA from Harvard Business School.
Pershing Square Capital Management
In 2004,[1] with $54 million from his personal funds and from his former business partner Leucadia National, Ackman started Pershing Square Capital Management.[8] In 2005, Pershing bought a significant share in the fast food chain Wendy's International and successfully pressured it to sell its Tim Hortons doughnut chain. Wendy's spun off Tim Hortons through an IPO in 2006 and raised $670 million for Wendy's investors. After a dispute over executive succession that led Ackman to sell his shares at a substantial profit, the stock price collapsed, raising criticism that the sale of Wendy's fastest-growing unit left the company in a weaker market position. Ackman blamed the poor performance on their new CEO.
In December 2007, his fund held a 10% stake in Target Corporation, valued at $4.2 billion, through the purchase of stock and derivatives. In December 2010, his funds held a 38% stake in Borders Group, and on December 6, 2010, Ackman indicated he would finance a buyout of Barnes & Noble for US$900M.
At a panel meeting discussing Bernie Madoff in January 2009, Ackman defended his longtime friend, Ezra Merkin, saying, "Has Ezra committed a crime? I don't think so," and "I think [Merkin] is an honest person, an intelligent person, an interesting person, a smart investor." In April 2009, Merkin was charged with civil fraud by the State of New York for "secretly steering $2.4 billion in client money into Bernard Madoff's Ponzi fraud without their permission." A settlement was reached in June 2012 requiring Merkin to pay $405 million to victims including the Metropolitan Council on Jewish Poverty.[citation needed]
In December 2012, Pershing Square Capital Management launched a new closed-end fund called Pershing Square Holdings, which raised $3 billion in an October 2014 IPO on Amsterdam's Euronext stock market.[25] As a closed-end fund valued at $6.7 billion, PSH was designed as a permanent capital vehicle from which investors would not be able to directly withdraw funds. PSH reported 17.1% in returns since inception (Dec. 2012 – November 2017) under Ackman's management, 80% below the S&P 500.[
Ackman started buying J. C. Penney shares in 2010, paying an average of $22 for 39 million shares or 18% of J.C. Penney's stock. In August 2013, Ackman's two-year campaign to transform the department store came to an abrupt end after he decided to step down from the board following an argument with fellow board members.
In a statement dated August 27, 2013, Pershing Square reported that it had hired Citigroup to liquidate the 39.1 million shares the firm then owned of the Plano, Texas-based department-store chain at a price of $12.90 per share, resulting in a loss of approximately $500 million. In January 2015, LCH Investments named Ackman one of the world's top 20 hedge fund managers after Pershing Square delivered $4.5 billion in net gains for investors in 2014, bringing the fund's lifetime gains to $11.6 billion since its launch in 2004 through year-end 2014.
According to Forbes Magazine, Ackman has a net worth of US$1.9 billion as of July 25, 2020, ranking him No. 391 on the Forbes 400. According to Institutional Investor, Ackman made an estimated $1.4 billion in 2020.
ROKPWIIXPROJEY4K
2. 'Hell is coming': how Bill Ackman's TV interview tanked the markets and made him $2.6bn during COVID off 27 million (s)
William Albert Ackman (born May 11, 1966) is an American investor and hedge fund manager. He is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. His investment approach makes him an activist investor.
Ackman was raised in Chappaqua, New York, the son of Ronnie I. (née Posner) and Lawrence David Ackman, the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. He is of Ashkenazi Jewish descent. In 1988, he received a Bachelor of Arts degree magna cum laude in Social Studies from Harvard College. His thesis was "Scaling the Ivy Wall: the Jewish and Asian American Experience in Harvard Admissions." In 1992, he received an MBA from Harvard Business School.
Ackman was raised in Chappaqua, New York, the son of Ronnie I. (née Posner) and Lawrence David Ackman, the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. He is of Ashkenazi Jewish descent. In 1988, he received a Bachelor of Arts degree magna cum laude in Social Studies from Harvard College. His thesis was "Scaling the Ivy Wall: the Jewish and Asian American Experience in Harvard Admissions." In 1992, he received an MBA from Harvard Business School.
Pershing Square Capital Management
In 2004,[1] with $54 million from his personal funds and from his former business partner Leucadia National, Ackman started Pershing Square Capital Management.[8] In 2005, Pershing bought a significant share in the fast food chain Wendy's International and successfully pressured it to sell its Tim Hortons doughnut chain. Wendy's spun off Tim Hortons through an IPO in 2006 and raised $670 million for Wendy's investors. After a dispute over executive succession that led Ackman to sell his shares at a substantial profit, the stock price collapsed, raising criticism that the sale of Wendy's fastest-growing unit left the company in a weaker market position. Ackman blamed the poor performance on their new CEO.
In December 2007, his fund held a 10% stake in Target Corporation, valued at $4.2 billion, through the purchase of stock and derivatives. In December 2010, his funds held a 38% stake in Borders Group, and on December 6, 2010, Ackman indicated he would finance a buyout of Barnes & Noble for US$900M.
At a panel meeting discussing Bernie Madoff in January 2009, Ackman defended his longtime friend, Ezra Merkin, saying, "Has Ezra committed a crime? I don't think so," and "I think [Merkin] is an honest person, an intelligent person, an interesting person, a smart investor." In April 2009, Merkin was charged with civil fraud by the State of New York for "secretly steering $2.4 billion in client money into Bernard Madoff's Ponzi fraud without their permission." A settlement was reached in June 2012 requiring Merkin to pay $405 million to victims including the Metropolitan Council on Jewish Poverty.[citation needed]
In December 2012, Pershing Square Capital Management launched a new closed-end fund called Pershing Square Holdings, which raised $3 billion in an October 2014 IPO on Amsterdam's Euronext stock market.[25] As a closed-end fund valued at $6.7 billion, PSH was designed as a permanent capital vehicle from which investors would not be able to directly withdraw funds. PSH reported 17.1% in returns since inception (Dec. 2012 – November 2017) under Ackman's management, 80% below the S&P 500.[
Ackman started buying J. C. Penney shares in 2010, paying an average of $22 for 39 million shares or 18% of J.C. Penney's stock. In August 2013, Ackman's two-year campaign to transform the department store came to an abrupt end after he decided to step down from the board following an argument with fellow board members.
In a statement dated August 27, 2013, Pershing Square reported that it had hired Citigroup to liquidate the 39.1 million shares the firm then owned of the Plano, Texas-based department-store chain at a price of $12.90 per share, resulting in a loss of approximately $500 million. In January 2015, LCH Investments named Ackman one of the world's top 20 hedge fund managers after Pershing Square delivered $4.5 billion in net gains for investors in 2014, bringing the fund's lifetime gains to $11.6 billion since its launch in 2004 through year-end 2014.
According to Forbes Magazine, Ackman has a net worth of US$1.9 billion as of July 25, 2020, ranking him No. 391 on the Forbes 400. According to Institutional Investor, Ackman made an estimated $1.4 billion in 2020.
ROKPWIIXPROJEY4K
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