‘For a while there, we forgot that our main job was to make money, so we woke up, and now we’re back in the money making business.’ Bill Ackman At a money-manager conference in New York earlier this week, Ackman acknowledged a string of missteps in recent years that saw his main hedge fund Pershing Square Capital Management stumble badly, shrinking to around $11 billion from a peak of $20 billion in 2015.
Part of the hedge fund’s success can be attributed to the manager dialing back somewhat on aggressive activist tactics and complex deals, and focusing on bread-and-butter businesses, including fast-casual Mexican chain Chipotle Mexican Grill Inc. CMG, +1.71% which is up 62% so far in 2019, according to FactSet data. He also bought stakes in Starbucks Corp. SBUX, +1.25% up 18.1% on the year, United Technologies Corp. UTX, +0.
Ackman’s performance is even outperforming a stock market that is on a solid bull rally, despite a host of macroeconomic and political fears. At least part of Ackman’s comeback can be credited to his January marriage to Neri Oxman, a professor at the MIT Media Lab, according to the New York Post.
Bill is back.
Rising tide lifts all ships. Let's see how he does in next bear market before he's anointed king.
Great reminder for us asset managers and investors.
CMG beauty 🌟
Comeback King 👑
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