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☆ Billionaire investors were torn on Alphabet, Amazon. How they traded 5 portfolio stocks
▼ + stars: | 2024-11-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Club holdings Alphabet and Amazon found themselves on the fault line. Battleground tech GOOGL YTD mountain Alphabet (GOOGL) year-to-date performance Third Point, the hedge fund run by Dan Loeb, sold its entire nearly $333 million position in Alphabet last quarter. Third Point trimmed its Amazon holdings by nearly 28%. A fund's holdings may very well have changed by the time the previous quarters' filings are revealed. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Wall, Dan Loeb, David Tepper, Seth Klarman, Philippe Laffont's Coatue, Bill Ackman's Pershing, Daniel Sundheim, Coatue, Donald Trump's, Eli Lilly, Jim Cramer's, Jim, Jim Cramer, Sebastien Bozon Organizations: Management, Group, D1, Amazon, Big Tech, Nasdaq, Health, D1 Capital, GE Healthcare, Jim Cramer's Charitable, CNBC, AFP, Getty Locations: 13Fs, Danaher

☆ Bill Ackman's Pershing Square doubles down on Nike and one name tied to data centers
▼ + stars: | 2024-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Bill Ackman's Pershing Square doubled down on Nike and Brookfield in his concentrated portfolio last quarter. The high-profile investor boosted his investment in Nike drastically in the third quarter, making the bet worth $1.4 billion, according to a regulatory filing. The bet was only worth about $220 million at the end of June. Nike is in the midst of a broader restructuring after it shifted its strategy to sell directly to consumers. Pershing Square also boosted its bet on Brookfield last quarter to a stake worth $1.74 billion, making it the second biggest holding behind Alphabet.

Persons: Bill Ackman's, Elliott Hill, Howard Hughes Organizations: Bill Ackman's Pershing, Nike, Brookfield, Pershing, Microsoft, Brookfield Asset Management, Hilton Worldwide, Restaurant Brands, Canadian Pacific, Canadian Pacific Kansas City Locations: Canadian Pacific Kansas

☆ Bill Ackman plans to pull his companies out of Amsterdam after antisemitic attacks
▼ + stars: | 2024-11-08 | by ( Auzinea Bacon | ) edition.cnn.com time to read: +2 min

CNN —Billionaire hedge fund manager Bill Ackman wants Pershing Square Holdings and Universal Music Group out of Euronext Amsterdam following attacks this week on Israeli soccer fans in the Dutch capital. In the post, he said that moving Pershing Square would save money and improve liquidity for its shareholders. The move for Universal Music Group, where Ackman is a board member, was also influenced by the attacks in Amsterdam. He wrote that Pershing Square has contractual rights to help move Universal Music Group from its Amsterdam headquarters and stock exchange. Universal Music and Pershing Square Holdings did not immediately respond to CNN’s requests for comment.

Persons: Bill Ackman, ” Ackman, Ackman, ” Organizations: CNN, Billionaire, Pershing Square Holdings, Universal Music Group, London Stock Exchange, Pershing, Europa League soccer, Israel’s Maccabi Tel, Ajax, Capital Management, LSE, Universal Music, New York Stock Exchange, Nasdaq Locations: Amsterdam, “, Israeli, Israel’s Maccabi Tel Aviv, Dutch

☆ Why Citadel's longest-running equities unit is focused on shorting stocks
▼ + stars: | 2024-10-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Justin Lubell, Citadel's Global Equities head, said shorting has been a big driver of returns. There's less competition in the space compared to going long on stocks, he said. Anthony Bozza, the founder of Lakewood Capital, called those who know who to short stocks a "dying breed." AdvertisementWhile some big bets against specific stocks have blown up in hedge funds' faces in recent years, there's still a focus on shorting at Citadel's longest-running equities unit. Related storiesEven investors known for bold short bets have moved away from the practice.

Persons: Justin Lubell, shorting, Anthony Bozza, —, there's, Ken Griffin's, Lubell, Robin, Gavin Baker, Lee Ainslie, Steve Cohen's Point72, Gabe Plotkin's Melvin Capital, Pershing, Bill Ackman, Bozza Organizations: Citadel's Global, Service, Citadel's, Citadel Global, Robin Hood Investors Conference, Business, Management, Lakewood Capital, Maverick Capital, GameStop, Lakewood Locations: Lakewood Capital, New York

☆ Arthur Blank joins 'Business Leaders for Harris' as his former business partner funnels money to Trump
▼ + stars: | 2024-10-25 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Home Depot cofounder and billionaire Arthur Blank joins business leaders supporting Harris. The group "Business Leaders for Harris" also includes Mark Cuban, Reid Hoffman, and Reed Hastings. AdvertisementA group of prominent business leaders supporting Vice President Kamala Harris is expanding its ranks to include Arthur Blank, co-founder of Home Depot and owner of the Atlanta Falcons. In a statement about joining Business Leaders for Harris, Blank celebrated Harris' commitment to his core value of inclusion. In addition to Blank, Fulbright Bank chairman and former Democratic congressman John Delaney joined Business Leaders for Harris.

Persons: Arthur Blank, Harris, Mark Cuban, Reid Hoffman, Reed Hastings, —, Kamala Harris, Bernie Marcus, Donald Trump's, Marcus, MAGA, Marc Andreesen, Bill Ackman, Elon Musk, Trump, She's, Blank, John Delaney Organizations: Trump, Service, Home Depot, Atlanta Falcons, titans, Netflix, GOP, Depot, Blank, Business, Fulbright Bank, Democratic, YouTube Locations: Pennsylvania , Michigan, Wisconsin

☆ This is why David Einhorn thinks Peloton could be worth five times what it is now
▼ + stars: | 2024-10-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The first page of the deck was titled "15 minute 'Stock Pitch Ride'" and shows an image of Einhorn on a Peloton bike. Greenlight Capital's David Einhorn thinks Peloton could trade as high as $31.50 a share if the company slashes costs, which could double its current adjusted EBITDA projections, CNBC has learned. And Adidas has 8 times more sales than Peloton and an order of magnitude more product lines." In August, Peloton said it expects it can post adjusted EBITDA of between $200 million and $250 million in fiscal 2025. "The nice part of our thesis is that we don't have to convince Peloton this is the right approach," said Einhorn.

Persons: Einhorn, Einhorn pedaled, Greenlight Capital's David Einhorn, Bill Ackman, Robin Hood, Richard Buery —, Karen Boone Organizations: Robin Hood Investors Conference, Wednesday, CNBC, Spotify, Netflix, Adidas, Companies Locations: EBITDA

☆ Why some CEOs are afraid of publicly criticizing Trump
▼ + stars: | 2024-10-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

It may be driven by fears of retribution from Trump and what a second term would bring. AdvertisementBoth Vice President Kamala Harris and former President Donald Trump have won support from America's business titans and CEOs. On Tuesday, the New York Times reported that both JPMorgan CEO Jamie Dimon and Microsoft founder Bill Gates support Harris, but won't say so publicly. On the flipside, it's also possible that there are pro-Trump CEOs who don't want to alienate liberal customers and employees. In an appearance on CNBC's "Squawk Box" on Wednesday, billionaire hedge fund manager Bill Ackman suggested that there's a well of silent Trump support among CEOs.

Persons: Jamie Dimon, Bill Gates, Kamala Harris —, Trump, —, Kamala Harris, Donald Trump, Harris, Gates, didn't, Dimon, he's, hasn't, John Deere, Jeffrey Sonnenfeld, They're, … Trump, Sonnenfeld, Joe Evangelisti, it's, Bill Ackman, Bill, Ackman, Mark Cuban, there's Organizations: Service, New York Times, Microsoft, Times, Yale School of Management, Leadership, Republican, JPMorgan, Trump Locations: Mexico, That's

☆ Warren Buffett — worried about impersonators — says he doesn't endorse candidates or investments
▼ + stars: | 2024-10-23 | by ( John Melloy | ) www.nbcnews.com time to read: +2 min

Warren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website. The statement reads:“In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett’s endorsement of investment products as well as his endorsement and support of political candidates. But Buffett wants to make sure everyone knows he would never do something like that. His actions were triggered in part by a fake political endorsement on Meta’s Instagram that was brought to his attention.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Becky Quick, “ I’m, ”, Kamala Harris, Donald Trump that’s, Elon Musk, Bill Ackman, Mark Cuban, Bill Gates, Harris, There’s, shuns bitcoin, Meta’s, Lacy O’Toole Organizations: Berkshire, The New York Times, CNBC Locations: Berkshire, Silicon Valley

☆ Over 400 economists and ex-officials endorse Kamala Harris
▼ + stars: | 2024-09-24 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —More than 400 economists and former high-ranking US policymakers are endorsing Vice President Kamala Harris and her vision for the American economy, according to a document announcing the endorsement seen by CNN. “The choice in this election is clear: between failed trickle-down economic policies that benefit the few and economic policies that provide opportunity for all,” the endorsement document reads. Harris plans to roll out new policies on what she calls the “opportunity economy” during a speech in Pennsylvania, another key battleground state, on Wednesday. Several notable economists threw their weight behind Harris, including University of Michigan economist Justin Wolfers and Claudia Goldin, who won the Nobel Prize last year for tracking women’s labor participation and the evolving wage gap. The endorsement argued that Harris has a “proven track record of economic leadership,” crediting her with efforts as vice president to lower costs, cut taxes and raise wages.

Persons: Kamala Harris, Harris, Donald Trump’s, Brian Deese, Obama, Jason Furman, Bill Daley, Penny Pritzker, Clinton, Robert Reich, Alan Blinder, Donald Trump, ”, Trump, Sean O’Keefe, George W, Justin Wolfers, Claudia Goldin, Marty Walsh, Deval Patrick, Larry Summers, Robert Rubin, Mark Cuban, James Murdoch, he’s, Bill Ackman, Peter Thiel, Tesla, Elon Musk, ” Harris, Jamie Dimon, Dimon, Jeffrey Sonnenfeld, Sonnenfeld Organizations: New, New York CNN, CNN, Federal Reserve, Management, NASA, University of Michigan, House, Labor, Massachusetts Gov, Democratic, JPMorgan Chase, JPMorgan, Wall Street, Trump, Yale, That’s Locations: New York, Georgia, Pennsylvania, United States, America, Dimon

"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.

Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States

☆ Stocks making the biggest moves midday: Walmart, Nike, Dell, Tapestry and more
▼ + stars: | 2024-08-15 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

The firm owned more than 3 million shares of Nike at the end of June, a stake worth roughly $229 million, the filing disclosed. Dell — Shares climbed 7.1% after JPMorgan added Dell to its focus list, noting the potential for upside after a recent pullback. Tapestry adjusted earnings per share of 92 cents, versus analysts' estimates of 99 cents per share, per LSEG. Berkshire holds 132.9 million shares of Sirius XM versus 36.7 million previously. Earnings per share fell to $4.59 in the fiscal second quarter from $7.98 per share a year ago.

Persons: Bill Ackman's, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, Alibaba, FactSet, Robinhood, Yun Li, Samantha Subin, Michelle Fox, Pia Singh, Alex Harring, Sean Conlon, Jesse Pound Organizations: Walmart, Nike, Bill Ackman's Pershing, Capital Management, Berkshire, Dell, JPMorgan, Citi, Cisco Systems, Cisco, Deere, Bros, UBS, Deutsche Bank, Lumentum Holdings, Sirius XM Holdings, Sirius XM, Management

☆ Inside the Worst Three Weeks of Donald Trump’s 2024 Campaign
▼ + stars: | 2024-08-10 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +1 min

The Aug. 2 dinner at the Bridgehampton, N.Y., home of Howard Lutnick, the Cantor Fitzgerald chief executive, was a high-powered affair. Among the roughly 130 people who dined under an air-conditioned tent were some of Donald Trump’s wealthiest supporters, including the billionaire hedge-fund financier Bill Ackman, who sat next to the former president, and Omeed Malik, the president of another fund, 1789 Capital. Some guests hoped Mr. Trump would signal that he was recalibrating after a series of damaging mistakes. He did not. According to two people present, Mr. Trump himself also brought up his remark, made two days earlier at a gathering of the National Association of Black Journalists, in which he had questioned Vice President Kamala Harris’s racial identity.

Persons: Howard Lutnick, Cantor Fitzgerald, Donald Trump’s, Bill Ackman, Omeed Malik, Trump, Lutnick’s, “ We’ve, Kamala Harris’s Organizations: National Association of Black Journalists

☆ Saying the Quiet Part Out Loud
▼ + stars: | 2024-08-03 | by ( Lauren Hirsch | Sarah Kessler | ) www.nytimes.com time to read: +1 min

Wall Street Democrats have spent the last eight years complaining about their relationship with Washington. But now that Vice President Kamala Harris is the party’s presumptive presidential nominee, they see a chance to regain influence. “Waging war is not.” (He later clarified that he would support Harris regardless of whether she replaced Khan.) Few on Wall Street would disagree with that stance — Khan has moved to block deals with seemingly little concern over losing in court. But behind the scenes, many are irked by this kind of public lobbying, arguing that it exposes a misunderstanding of the way the Washington game is played, and that it could backfire.

Persons: Donald Trump’s, Biden, Kamala Harris, Elon Musk, Bill Ackman, Harris, Lina Khan, ” Barry Diller, Reid Hoffman, ” Hoffman, “, Khan, — Khan Organizations: Democrats, Democratic Party, Trump, Federal Trade Commission, IAC, CNBC, LinkedIn, CNN Locations: Washington

☆ Bill Ackman’s Pershing Square USA withdraws US IPO
▼ + stars: | 2024-07-31 | by ( ) edition.cnn.com time to read: 1 min

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☆ Bill Ackman's Pershing Square withdraws IPO as demand for offering waned
▼ + stars: | 2024-07-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Bill Ackman, chief executive officer of Pershing Square Capital Management LP, speaks during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" in New York, US, on Tuesday, Nov. 28, 2023. Bill Ackman's Pershing Square USA withdrew plans for a an initial public offering after investor demand appeared to wane from original expectations. As of the end of June, Pershing Square had $18.7 billion in assets under management. Most of the money was under Pershing Square Holdings, a closed-end fund that trades in Europe. Ackman's move to publicly list Pershing Square was seen as a way to capitalize on his growing presence among retail investors.

Persons: Bill Ackman, David Rubenstein, Bill Ackman's, Berkshire Hathaway, Seth Klarman's Organizations: Pershing, Capital Management, Bill Ackman's Pershing, USA, Berkshire, Pershing Square Holdings, Bloomberg, U.S Locations: New York, PSUS, Europe, Seth Klarman's Boston

☆ Bill Ackman seeking to raise $2 billion in Pershing Square fund IPO, lower than original expectations
▼ + stars: | 2024-07-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Hedge fund manager Bill Ackman is looking to raise $2 billion in the initial public offering of Pershing Square USA, with 40 million shares priced at $50. The Pershing Square USA IPO will be in the form of a closed-end fund, and is expected to hold many of the same positions as Ackman's other vehicles. Pershing Square also has a closed-end fund in Europe, which trades at a discount to its net asset value. At one point, Pershing Square was looking to raise as much as $25 billion, according to the Wall Street Journal and Bloomberg News. (In an unusual circumstance, Pershing Square USA then disclosed the letter in a filing and officially disclaimed it.)

Persons: Bill Ackman, Ackman, Seth Klarman's Baupost Organizations: Pershing, USA, Wall Street Journal, Bloomberg News, Bloomberg Locations: Europe

☆ Bill Ackman won’t raise anything close to what he planned for his hedge fund IPO
▼ + stars: | 2024-07-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Bill Ackman, billionaire hedge fund manager and chief executive of Pershing Square Capital Management, is seeking $2 billion to take the company’s investment fund public. In a letter to strategic partners last week, Ackman said that he expected to raise between $2.5 billion to $4 billion. The company will offer 40 million shares priced at $50 apiece, according to a Tuesday filing with the US Securities and Exchange Commission. That would be an additional $300 million value for the investment fund, Pershing Square USA. Pershing Square officially hung up its activist megaphone in 2022, opting to work with a small group of companies behind the scenes.

Persons: Bill Ackman, Ackman, ” Ackman, Pershing, — Organizations: New, New York CNN, Pershing, Capital Management, Wall, US Securities and Exchange Commission, Underwriters, Citigroup, Bank of America, Jefferies, USA, New York Stock Exchange, Herbalife, Trump Locations: New York, Israel

Ackman delays his big betMonday isn’t going to be the day that Bill Ackman prices the I.P.O. of his Pershing Square USA investment vehicle, as had been planned. But the long-awaited fund, whose investors will probably include many who follow Ackman’s provocations on social media, is still coming, it says. The context: Pershing Square USA is a so-called closed-end fund that’s raising money to make the sort of concentrated investments that Ackman is now known for. The fund had faced big expectations after Ackman set an initial I.P.O.

Persons: Bill Ackman, Ackman Organizations: Pershing Square USA, Pershing

☆ Melinda French Gates weighs in on the generosity of billionaires like Elon Musk and Peter Thiel: 'I would not call those men philanthropists'
▼ + stars: | 2024-07-28 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Read previewMelinda French Gates says the new generation of billionaires, like Elon Musk and Peter Thiel, these days primarily use their "megaphones" instead of their bank accounts to effect change. "Well, the people you just named have not been very philanthropic yet," French Gates replied. French Gates has since endorsed Vice President Kamala Harris, who became the likely Democratic nominee after Biden left the race earlier this month. In her endorsement of Harris, French Gates emphasized the need for a leader who will advocate for abortion rights. Asked to elaborate, French Gates said she thinks tech CEOs frequently give advice on things with which they are not experts.

Persons: —, Melinda French Gates, Elon Musk, Peter Thiel, Gates, Jack Dorsey, Bill Ackman, Bill Gates, Joe Biden, Kamala Harris, Biden, Harris, Roe, Wade Organizations: Service, The New York Times, Tesla, Twitter, PayPal, Business, Gates Foundation, Democratic, Times Locations: United States

☆ Bill Ackman's IPO of Pershing Square closed-end fund is postponed, NYSE says
▼ + stars: | 2024-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Billionaire investor Bill Ackman is postponing the highly scrutinized listing of Pershing Square's U.S. closed-end fund, according to a notice on the New York Stock Exchange's website. The initial public offering of Pershing Square USA Ltd., with the ticker PSUS, has been delayed until a date to be announced, according to the website. Pershing Square declined to comment further. Most of its capital is in Pershing Square Holdings, a $15 billion closed-end fund that trades in Europe. The publicly traded closed-end fund is expected to invest in 12 to 24 large-cap, investment-grade, "durable growth" companies in North America.

Persons: Bill Ackman, Pershing, Ackman, — CNBC's Leslie Picker Organizations: Pershing Square's U.S, New York Stock, Pershing, USA, Pershing Square Holdings, New York Stock Exchange Locations: Europe, North America

☆ DEI, explained: What’s the term Republicans are using to attack Kamala Harris?
▼ + stars: | 2024-07-24 | by ( Nicquel Terry Ellis | ) edition.cnn.com time to read: +14 min

Critics say DEI programs are discriminatory and attempt to solve racial discrimination by disadvantaging other groups, particularly White Americans. These diversity training efforts emerged around the time that affirmative action began by executive order from President John F. Kennedy. Despite the backlash against DEI programs and initiatives, many companies are standing firm in their support for DEI. And 71% of people surveyed said they think DEI training is important to “creating a positive workplace culture.”What does DEI look like at work? Thrivent’s DEI training teaches employees how to understand and bridge cultural differences in the workplace, Baker said.

Persons: Kamala Harris, Tim Burchett, CNN’s Manu Raju, Joe Biden, Harris, ” Burchett, CNN’s Wolf Blitzer, Susan Rice, “, ” Rice, didn’t, Bill Ackman, Elon Musk, it’s, Daniel Oppong, ”, Lyndon Baines Johnson, George Floyd’s, Dominique Hollins, WĒ360, John F, Kennedy, Ronald Reagan, Hollins, ” Hollins, Ipsos, ” Kelly Baker, Thrivent’s, Baker, Thrivent, ” Baker, Ella Washington, ” Washington, Washington, Christopher Rufo, Ryan P, Williams, ‘, ” Williams, Tesla, ” Musk, Musk, Mark Cuban, ” What’s, Ron DeSantis, Republican State Sen, Dave Murman, Sen, Danielle Conrad, ” Conrad, ” CNN’s Athena Jones Organizations: CNN, Democratic, Tennessee Republican, Chronicle, Higher Education, Pew Research Center, Elon, White, Equity, Civil, DEI, Opportunity Commission, Academy of Management Learning, Education, Colleges, Minneapolis police, Companies, College, University of Florida, of Governors, Georgetown University’s McDonough School of Business, Georgetown’s, Student Equity, Disability, Center, Women’s Center, Resource Center, Center for Multicultural Equity, “, Manhattan Institute, New York Times, Claremont Institute, SpaceX, Musk, SEC, Dallas Mavericks, Florida Gov, Higher, Republican State, Nebraska, Nebraska Democratic Locations: Black, Texas, Florida, U.S, Washington, America, ” Cuban, Texas, North Dakota, North Carolina , Tennessee, Utah, Nebraska

☆ Pornhub is awash in lawsuits. Unverified videos still on the site could bring even more, says the author of the new book 'Takedown.'
▼ + stars: | 2024-07-22 | by ( Laura Italiano | ) www.businessinsider.com time to read: +15 min

AdvertisementPornhub, launched in 2007 and based in Montreal, lets users upload amateur and professional porn videos in much the same way users upload to YouTube. "Performers" remain unverified in many thousands of pre-2024 videos, including those that pop up from search terms involving teens and violence, Mickelwait told Business Insider. Lawsuits and monitoringAn ever-growing number of lawsuits by some 300 plaintiffs allege the site knowingly profited from videos of their abuse. An excerpt from a federal judge's November order granting class-action status to one of dozens of Pornhub lawsuits. AdvertisementMost recently, she said, she reported to state authorities the Pornhub video showing a woman shouting in pain and asking not to be filmed.

Persons: —, Laila Mickelwait, She's, Mickelwait, It's, Pornhub, Sarah Bain, Aylo —, Rocky Shay Franklin, Nicholas Kristof, Bill Ackman, MindGeek, Netflix —, Laila, Mike Bowe, I've, Bowe, kG2TK2R8sj, Cormac J, Carney, Serena Fleites, Fleites, Bain, Cherie DeVille, Mike Stabile, Stabile Organizations: Service, Business, Ethical Capital Partners, Random House, Justice Defense Fund, Sunday Times, New York Times, Heinz, Unilever, KY, Pornhub, Netflix, Mastercard, Visa, Capital, US, Free Speech Coalition Locations: Montreal, Pornhub, Alabama, Florida, London, Manhattan, California, Bowe's, Bakersfield , California

☆ Bill Ackman says Warren Buffett's career inspired him to take Pershing Square funds public
▼ + stars: | 2024-07-14 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

In a virtual presentation to pitch his closed-end vehicle Pershing Square USA Ltd., the billionaire investor recalled discovering Buffett's writing in his early 20s and learning from the unusual career path of the "Oracle of Omaha." And that story was really the inspiration behind launching Pershing Square." The 58-year-old Ackman has mostly achieved that goal with almost 90% of Pershing's assets now in a permanent capital format . Most of its capital is in Pershing Square Holdings, a $15 billion closed-end fund that trades in Europe. So my ambition was to get to a very similar place as Warren Buffett as promptly and as practicable," Ackman said.

Persons: Pershing, Bill Ackman, Warren Buffett, Ackman, Buffett, Berkshire Hathaway, Warren, yank Organizations: Pershing, USA, Pershing Square Holdings, New York Stock Exchange Locations: Omaha, Berkshire, Europe, Ackman, Omaha , Nebraska

☆ Trump victory trades to swell after shooting, investors say
▼ + stars: | 2024-07-14 | by ( ) www.cnbc.com time to read: +4 min

Saturday's shooting at U.S. former President Donald Trump's election rally raises his odds of winning back the White House, and trades betting on his victory will increase this coming week, investors said on Sunday. Trump was shot in the ear during the rally in Pennsylvania on Saturday in what the authorities were treating as an assassination attempt. The first shooting of a U.S. president or major party candidate since a 1981 assassination attempt on Republican President Ronald Reagan could upend the Nov. 5 rematch between Republican Trump and President Joe Biden, a Democrat, which has been tight in opinion polls. World leaders and U.S. politicians condemned the shooting, while some industry executives, including Tesla chief Elon Musk, declared their support for Trump. Investors also expect an extension of corporate and personal tax cuts expiring next year, fuelling concerns about rising budget deficits under Trump.

Persons: BUTLER, Donald Trump, Donald Trump's, Trump, Rong Ren Goh, Ronald Reagan, Joe Biden, Reagan, Nick Ferres, Elon Musk, Biden, Jerome Powell, Goldman Sachs, Bill Ackman, Musk Organizations: Republican, Secret, U.S, Treasury, Eastspring Investments, Republican Trump, Democrat, Asset Management, Tesla, Trump, Reuters, Investors, Federal, Biden, Dow Jones, Democratic, Goldman Locations: PENNSYLVANIA, Butler , Pennsylvania, Pennsylvania, Singapore

☆ Billionaire hedge fund manager Bill Ackman endorses Trump following assassination attempt in Pennsylvania
▼ + stars: | 2024-07-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Billionaire hedge fund manager Bill Ackman endorsed Donald Trump for president on Saturday. Ackman's announcement on X came hours after an assassination attempt on Trump in Pennsylvania. Ackman assured Biden supporters that he hadn't "lost it" and came to the decision carefully. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBillionaire hedge fund manager Bill Ackman has officially come out in support of former president Donald Trump's re-election campaign, following an assassination attempt at a Trump rally on Saturday.

Persons: Bill Ackman, Donald Trump, Ackman, Biden, —, Donald Trump's, @realDonaldTrump, Trump, @POTUS Biden Organizations: Trump, Service, Billionaire, Business Locations: Pennsylvania

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