In the speech given to the on-going 6th Value Investing Congress, Bill Ackman sounded more bullish than bearish.
Via reuters:
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Via reuters:
NEW YORK, Oct 12 (Reuters) - Activist hedge fund manager William Ackman on Tuesday sounded a bullish note on the U.S. economy, saying that improved corporate health may lay the groundwork for a new wave of acquisitions.
"I'm more bullish than I am bearish," Ackman, whose Pershing Square Capital Management oversees roughly $7 billion of assets, said at the Value Investing Congress.
"I see a lot of reasons for economic improvement in this country," Ackman said, noting that corporations are now leaner and more efficient after the 2008 financial crisis.
Ackman's fund firm tends to make most of its investments in the United States and on Friday Pershing Square unveiled a 16.5 percent stake in retailer J.C. Penney (JCP, Financial) and an 11 percent stake in Fortune Brands (FO, Financial).
Read the complete story on Reuters.com.
And watch the following video:
Check Bill Ackman's stock portfolio here at GuruFocus by clicking on his name.
