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Bill Ackman: Howard Hughes Is the Most Undiscovered Mid-Size Company in the Capital Markets
Posted by: Tannor Pilatzke (IP Logged)
Date: November 22, 2013 05:22PM
Bill Ackman CEO of Pershing Square talks with Bloomberg "Market Makers" at the Robin Hood Conference about various topics ranging from the new positions he has taken recently to the losses on JCP and HLF over the last year. He says he will have influence on the new Air Products CEO and two directors search process. He states buybacks is not the thesis but more like an analogy of Canadian Pacific in regards to capital allocation and improving efficiencies. "We don't make trades, it was an investment," Ackman said about his losses on JCP, and adds he has no conviction to short the company.
Ackman, the chairman of Howard Hughes (HHC), a spin-out off General Growth Properties (GGP), says it is the most undiscovered mid-size company in the capital markets that he will probably own forever.Ackman said an LBO of HLF would provide an even better short opportunity for Pershing.
Guru Discussed: Bill Ackman: Current Portfolio, Stock Picks
Stocks Discussed: HLF, JCP, FNMA, FMCC, APD, GGP,