remains confident in his investment in retailer J.C. Penney
, despite a year-to-date decline of nearly 44 percent.
Pershing Square, Ackman's $10 billion hedge fund, is the largest shareholder in J.C. Penney (NYSE:JCP
). He told the audience at the CNBC and Institutional Investor Delivering Alpha conference that he believes that the department store chain has the biggest potential upside of any company in Pershing Square's portfolio. Continue reading here
About the author:
Dheeraj GroverI am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne