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The logo for Vanguard is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. Despite a "cruel summer for bond investors," long-term bonds continue to remain attractive as the economy will likely enter a shallow recession next year, the world's second-largest asset manager said in a fixed income outlook seen by Reuters. "The relative advantage short-term government bonds have can fade quickly, and investors can fare better when they lock in higher rates for longer," Vanguard said. Vanguard said it expects interest rates will not be cut until at least mid-2024, and that bond yields will not return to the low levels that characterized the U.S. bond market in recent history. "We view high-quality corporates as one of the more attractive places to be in credit," Vanguard said.

Persons: Brendan McDermid, Bill Ackman, Davide Barbuscia, Ira Iosebashvili, Will Dunham Organizations: Vanguard, New York Stock Exchange, REUTERS, Federal, Reuters, U.S, Treasury, Pershing, Capital, Thomson Locations: New York City, U.S

☆ 2 startup founders and a VC share why they won't hire anyone who supports Hamas
▼ + stars: | 2023-10-21 | by ( Julie Bort | ) www.businessinsider.com time to read: +8 min

Two startup founders and a VC explain why they won't hire people who support Hamas. Struck has pledged never to hire people who support Hamas, which has been designated a terrorist organization by the US. In the days following the horrific terrorist attack by Hamas against Israel, this distinction was sometimes lost. In their interviews with Insider, Struck, Broukhim, and Frischer explained nuanced stances and where they draw the line on this issue. Frischer's takeMatt Frischer, co-founder of Protect Matt FrischerFrischer has similar opinions.

Persons: —, Adam, Michael Broukhim, Matt Frischer, Oren Etzioni, Israel, Bill Ackman, Frischer, FabFitFun Michael Broukhim, Broukhim, He's, Jonathan Neman, Matt Frischer Frischer, It's Organizations: Hamas, Service, Israel, Madonna Venture, Pershing, Harvard, Columbia, Defamation, cribs Locations: Israel, Los Angeles, Palestine, FabFitFun

☆ Wall Street cues a lesson in Ivory Tower finance
▼ + stars: | 2023-10-20 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +5 min

NEW YORK, Oct 20 (Reuters Breakingviews) - Wall Streeters are trying to teach universities a lesson, but may provide them with a broader understanding of economics instead. The median family income for Harvard students is nearly $169,000, or about 2.5 times the U.S. average. Stockpiles of cash donated by Rowan, Ackman and other alumni also should theoretically make such institutions more accessible, but haven’t. Elite universities funnel many graduates to lucrative careers in finance and consulting, and studies have shown that social class often predetermines success. Ideally, Ivory Towers would price education closer to its actual value rather than what people are willing to pay.

Persons: Marc Rowan, Bill Ackman, Ackman, Rowan, Israel, grads, Liz Magill, Scott Bok, David Magerman, Estee Lauder, Ronald Lauder, Jon Huntsman, Larry Summers, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, University of Pennsylvania, Harvard, Rowan, Ivy League, Reuters Graphics Investment, Apollo Global Management, Ackman’s, Palestine, Literary, Renaissance Technologies, Pershing, Harvard University, Thomson Locations: Cambridge , Massachusetts, Wharton

☆ The major donor revolt at University of Pennsylvania over its response to the Israel-Hamas war is getting worse
▼ + stars: | 2023-10-18 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +5 min

The megadonor revolt at the University of Pennsylvania is getting worse as the Israel-Hamas war intensifies. Penn isn't the only school facing backlash after the Hamas attacks; Harvard University and Cornell University have also drawn scrutiny. As the war with Israel intensifies in Gaza, UPenn's benefactors are slamming the school for its response and actions before and after Hamas' terrorist attacks in Israel. AdvertisementAdvertisementThe billionaire Ronald Lauder followed suit, threatening to stop donating to the university if it doesn't mount a stronger response to antisemitism. And at Cornell University, students are calling for a history professor to be fired after he described the Hamas attacks as "exhilarating" and "energizing."

Persons: Penn, —, Clifford Asness, Asness, Liz Magill, Steve McGuire, Marc Rowan, Rowan, Magill, Scott Bok, Dick Wolf, Jon Huntsman, Ronald Lauder, David Magerman, I've, Bill Ackman, Israel Organizations: University of Pennsylvania, Harvard University, Cornell University, Service, Pennsylvania's, Ivy League, Penn, American, of Trustees, Apollo, Daily, Huntsman Foundation, Pershing Locations: Israel, Gaza, Penn, Palestine

☆ The Verdict on John Grisham’s Sequel to ‘The Firm’
▼ + stars: | 2023-10-17 | by ( Sarah Lyall | More About Sarah Lyall | ) www.nytimes.com time to read: +1 min

Whatever happened to Mitch McDeere, the brash young associate who brought down the corrupt law firm of Bendini, Lambert & Locke in John Grisham’s game-changing 1991 legal thriller, “The Firm”? Three decades later, Grisham has resurrected Mitch — or Tom, as I like to think of him, because Tom Cruise played him with such seductive charm in the movie — for another outing. The new book, THE EXCHANGE (Doubleday, 338 pp., $29.95), should be a delicious gift to Grisham fans. But once you’ve read it, you might find yourself wishing that Mitch, last seen slipping out of sight while Bendini, Lambert & Locke imploded, had simply decided to while away his days in moneyed obscurity. It is 2005, and despite his earlier experience in corporate law, Mitch — still married to Abby, and now the father of twin boys — has joined the gargantuan international law firm of Scully & Pershing.

Persons: Mitch McDeere, Lambert, Locke, John Grisham’s, Grisham, Mitch —, Tom Cruise, Mitch, Bendini, Abby, —, Pershing, Giovanna Organizations: Doubleday Locations: Bendini, Libyan

☆ Tensions flare at Two Sigma over donations after Hamas attack
▼ + stars: | 2023-10-16 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

The heightened sensitivity around Israel and Palestine hit home last week at Two Sigma, the $60 billion New York-based quant fund manager. The firm's leadership faced internal criticism last week following its regular companywide Wednesday email, according to sources familiar with the situation. The company is also backdating donations to these organizations to October 7, the date of the deadly attacks. "We are horrified by the recent terrorist attacks in Israel and devastated by the loss of innocent civilian lives in the region. In response, last week we launched a 2:1 company match for employee donations made to organizations providing critical support and humanitarian relief," a statement from a Two Sigma spokesperson said.

Persons: Bill Ackman, Marc Rowan, maters — Organizations: Sigma, Google, USA, Committee, United, Finance, Pershing, maters — Harvard, University of Pennsylvania Locations: Israel, Palestine, York, Gaza, United Nations

☆ Bill Ackman's misguided Harvard crusade
▼ + stars: | 2023-10-13 | by ( Linette Lopez | ) www.businessinsider.com time to read: +6 min

"The names of the signatories should be made public," Ackman fumed, "so their views are publicly known." Look, it's classic Wall Street to complain about the younger generation being a bunch of good-for-nothing freaks. It's also classic Wall Street to throw money around as a way to exercise power over institutions, forcing rivals you dislike to bend the knee. In his initial post, Ackman said that "a number of CEOs" shared his desire to publicly out the Harvard students. AdvertisementAdvertisementOn Wall Street, Ackman is known as the king of uninformed, unnecessary, and seemingly unlimited tweets — a breathtaking achievement in an industry full of workaholic, screen-addicted information junkies.

Persons: Bill Ackman, —, Ackman, Larry Summers, Joe McCarthy, Mark Rowan, It's, it's, he's, JC Penney, Michael Pearson, Herbalife, Sam Bankman, Pershing, Linette Lopez Organizations: Pershing, Capital Management, Harvard, Wall, Treasury, Apollo Global Management, University of Pennsylvania, JC, isn't Locations: Israel, Canadian, Washington, Palestine

☆ Bill Ackman says it's not harassment to ask for the pro-Hamas Harvard students to be named — it's a CEO's due diligence
▼ + stars: | 2023-10-12 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Bill Ackman is tripling down on his stance that Harvard should name its pro-Hamas students. It's "not harassment to seek to understand the character of the candidates," Ackman wrote. AdvertisementAdvertisementBillionaire investor Bill Ackman says it's not harassment to ask for pro-Hamas Harvard students to be named — it's due diligence. Ackman was separately criticized by Harvard economics professor Jason Furman for his stance that the students should be named. "I admire @BillAckman, including for his efforts to exonerate the innocent," Furman added in a subsequent X post on Wednesday.

Persons: Bill Ackman, It's, Ackman, —, it's, Israel, Jason Furman, Furman, Obama Organizations: Harvard, Service, Pershing, Twitter, Publishing, Ackman

☆ Apollo CEO is calling for University of Pennsylvania leaders to resign after he says they refused to strongly condemn antisemitism
▼ + stars: | 2023-10-11 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Apollo Global Management CEO Marc Rowan is calling for University of Pennsylvania leaders to resign. AdvertisementAdvertisementApollo Global Management CEO Marc Rowan is the latest business leader to slam an Ivy League institution for not taking a stronger stance against what he called antisemitism. AdvertisementAdvertisementAt the time, the university responded, saying in a statement that "we unequivocally — and emphatically — condemn antisemitism as antithetical to our institutional values." But, in light of the attack by Hamas on Israel, Rowan has said the response was not enough. "We see sickening parallels between Harvard leadership's inaction against Harvard's antisemitism and the failure by UPenn's leadership to take a stand against hate," Rowan wrote in his letter.

Persons: Marc Rowan, Hedge, Bill Ackman, Israel, —, Elizabeth Magill, Scott Bok, Rowan, Magill, Magill's, didn't, Pink Floyd, Roger Waters, Carolyn, Ackman, Jonathan Newman, Jake Wurzak, Penn Organizations: Apollo Global Management, University of Pennsylvania, Hamas, Harvard, Service, Global Management, Ivy League, Daily, Defamation League, Jewish, Wharton School's, Advisors, Pershing, Capital Management, Dovehill Capital Management Locations: Israel, UPenn, mater

☆ Bill Ackman says the students who blamed Israel for Hamas' attacks have to stop hiding behind the Harvard brand
▼ + stars: | 2023-10-11 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Bill Ackman says Harvard students who stand by a statement slamming Israel should be held accountable. That is the essence of free speech," Ackman wrote on X. AdvertisementAdvertisementBill Ackman is doubling down on his stance that the Harvard students who stand by their organizations' statement on the Hamas-Israel war should not be allowed to hide behind the Harvard brand name. In response, Ackman wrote that he believes in free speech, and that "everyone is entitled to their opinion." But you shouldn't hide behind a Harvard branded corporation while doing so anonymously," Ackman wrote.

Persons: Bill Ackman, Ackman, —, MSNBC's Mehdi Hasan, Hasan, Israel, Jonathan Newman, Jake Wurzak, Michael Broukhim, Winston, Strawn, Ryna Workman, Workman Organizations: Harvard, Israel, Service, Harvard Palestine Solidarity Groups, Dovehill Capital Management, NYU Student Bar Association, Ackman, Pershing Locations: Israel, Hamas

☆ CEOs call on Harvard to name students linked to statement blaming Israel for Hamas attack
▼ + stars: | 2023-10-11 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

The CEO of Pershing Square Capital Management said he wanted to ensure his company and others don’t “inadvertently hire” any students belonging to Harvard groups that signed the letter. Following a backlash to the statement, some of the student groups have since withdrawn their endorsements. Others warn that naming the students whose groups backed the statement could put the students in harms way and did not account for differences of opinion within the student groups. But Harvard President Claudine Gay issued a statement Tuesday saying “no student group – not even 30 student groups – speaks for Harvard University or its leadership.”Harvard student groups’ statementThe controversy comes in response to a joint statement released by a coalition of Harvard student groups following the attacks by Hamas that have killed more than 1,000 Israelis and at least 14 American citizens. Another Harvard student, Danielle Mikaelian, said she resigned from the board of a group that signed the statement on Israel and didn’t have a chance to read it until it was too late.

Persons: Bill Ackman, ” Ackman, don’t “, “, Jonathan Neman, Ackman, Stephen Sullivan, Claudine Gay, –, ”, ” Jake Wurzak, shouldn’t, ” Wurzak, Mohini Tangri, Tangri, Danielle Mikaelian, didn’t, ” Mikaelian, Israel “, Winston, Strawn, “ Winston, Larry Summers, Summers, Bill Clinton, ” Gay, Jonathan Greenblatt, CNN’s Kristina Sgueglia, Sabrina Shulman Organizations: New, New York CNN, Billionaire, Harvard University, Pershing, Capital Management, Harvard, Dovehill Capital Management, Forbes . Harvard University, ” Harvard, Harvard Palestine Solidarity Groups, Harvard Crimson, Harvard Undergraduate Nepali Student Association, Crimson, Harvard Law School, NYU Student Bar Association, NYU, Winston, Defamation League, ADL, Accenture, Adidas, NBA, CNBC Locations: New York, Israel, Gaza

☆ Peltz's Trian up 3% this year even as Disney bet soured
▼ + stars: | 2023-10-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +1 min

NEW YORK, Oct 10 (Reuters) - Nelson Peltz's Trian Fund Management returned nearly 3% in the first nine months of the year, investors said on Tuesday, as his bet on Walt Disney Co (DIS.N) contributed to the activist hedge fund lagging its peers' returns. Disney's stock price has tumbled roughly 30% since February, when Peltz ended a battle for a board seat but kept Trian invested in the stock. Some blue-chip activist investors, including Bill Ackman's Pershing Square Capital Management and Jeff Smith's Starboard Value, are posting better numbers. The average activist investor gained nearly 7% through the end of September, according to Hedge Fund Research data. At the end of June, the average activist investor was up 11.5% while Trian was up roughly 6%, HFR data and investors said.

Persons: Nelson, Peltz, Trian, Janus Henderson, Trian's, Bill Ackman's, Jeff Smith's, Svea Herbst, Bayliss, Nick Zieminski Organizations: Fund Management, Walt Disney Co, Disney, Reuters, Janus Henderson Group, Ferguson, Bill Ackman's Pershing, Capital Management, Pershing, Fund Research, Svea, Thomson Locations: Boston

☆ Bill Ackman calls on Harvard to release the names of students in groups holding Israel responsible for Hamas violence — so CEOs don't 'inadvertently hire' them
▼ + stars: | 2023-10-10 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Bill Ackman is calling on Harvard to release the names of students who are part of groups that signed a letter solely blaming Israel for the crisis in Gaza. The billionaire says he and other CEOs want to know so they don't "inadvertently hire any of their members." The letter has drawn backlash from many Harvard alums, including Ackman, for its staunch position. AdvertisementAdvertisementBillionaire hedge fund manager Bill Ackman has called on Harvard University to release the names of students who are members of organizations that signed a letter saying Israel is "entirely responsible" for the violence unfolding in the region. His request to release students' names has received a mixed response on Twitter — certainly not everyone agreed.

Persons: Bill Ackman, Israel, —, Ackman, Ian Bremmer, Larry Summers, Seth Moulton, Ted Cruz, Hama, Claudine Gay Organizations: Harvard, Service, Harvard University, Eurasia Group, Harvard Palestine Solidarity Groups, Harvard Palestine Solidarity Committee, US, Pershing, Capital Management, Pershing Square Foundation, Center for Jewish, Rights Watch, America, Twitter Locations: Gaza, Israel, Harvard Palestine, Harvard

☆ Ken Griffin’s hedge fund Citadel bucks the downtrend in September, up nearly 13% this year
▼ + stars: | 2023-10-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's flagship hedge fund rallied last month when the broader market was rattled by tight monetary policy as well as rising recession fears, according to a person familiar with the returns. Citadel's multistrategy flagship Wellington fund gained 1.7% in September, bringing its 2023 performance to 12.6%, the person said. The S&P 500 pulled back 4.9% last month, suffering its worst month of the year. Griffin, founder and CEO of Citadel, told CNBC last month he was skeptical that this year's rally, powered mostly by artificial intelligence-related stocks, can be sustainable. The Wellington fund soared 38% in 2022 for its best year ever.

Persons: Ken Griffin's, Citadel's multistrategy, Stocks, Pershing, Bill Ackman, Griffin Organizations: Treasury, Citadel, CNBC, Big Tech Locations: Wellington

☆ The one thing in markets everyone should be watching
▼ + stars: | 2023-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

The 10-Year US Treasury yield is arguably the most important thing to watch right now for investors. The 10-Year yield has soared to levels not seen since 2007, and that's having a big impact on stock prices. Here's what you need to know about what bond yields are doing to markets and the economy. Rising bond yields are also thrashing the bond market, as bond prices fall when yields rise. AdvertisementAdvertisementHigher interest rates also means higher credit card rates, leading to a rise in delinquencies in recent months.

Persons: —, It's, Ray Dalio, Bill Ackman, Bill Gross, JPMorgan's Marko Kolanovic, Kolanovic Organizations: Treasury, Service, Treasury Bond ETF, Fed, Pershing, CNBC Locations: delinquencies

☆ What the bond market is telling us about recession chances right now
▼ + stars: | 2023-10-03 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The 2-year and 10-year Treasury yield curve initially inverted in March 2022, a phenomenon that has historically been a reliable recession predictor. The spread between the 2-year and 10-year Treasury yields tightened to 40 basis points on Tuesday, marking the smallest gap since May 5. "I always talk about the yield curve being inverted as a warning signal if you will... but it doesn't happen imminently. The notable bond investor said when the yield curve de-inverts, it's a strong signal of a recession and that it was very close to happening. EvercoreISI historical work found that the yield curve turns positively sloped just before a recession begins.

Persons: Jeffrey Gundlach, Gundlach, it's, Pershing, Bill Ackman, Ackman Organizations: Treasury, DoubleLine, CNBC, Federal Reserve

☆ Legendary hedge-fund manager Bill Ackman has beaten 99% of his peers over the last 5 years. Here are 2 stocks he says he's massively betting on with 40% of his $16.9 billion portfolio.
▼ + stars: | 2023-10-03 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Bill Ackman says he doesn't short stocks anymore. The hedge fund manager famously feuded with investing legend Carl Icahn over Ackman's short position on Herbalife over a decade ago. At the conference, Ackman talked about two companies he's placing massive bets on right now: Universal Music (UNGVY) and Alphabet (GOOG). Ackman said his portfolio has a 22-25% weight on Universal Music, and a 16-17% weight on Alphabet, meaning he's betting 38-42% of his fund on the two firms. For Universal Music it's streaming.

Persons: Bill Ackman, Carl Icahn, Ackman, we'd, I'm, CNBC's Scott Wapner, Warren Buffett, chatbot, OpenAI's ChatGPT, They've Organizations: Pershing Square Holdings, Delivering Alpha, Pershing, Morningstar, Universal, Euronext, Universal Music, Capitol Records, Jam, Google, YouTube Locations: New York, Euronext Amsterdam

☆ Explainer: How Bill Ackman's SPARC differs from a SPAC
▼ + stars: | 2023-10-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Here's how a SPARC differs from a SPAC:DEAL VISIBILITYOne of the biggest differences is a SPARC doesn't require up-front money from investors like a SPAC does. SPAC investors are then given the option to vote down an acquisition or redeem their shares once a deal has been announced. SPARC will only ask for money from investors once it has clinched and disclosed a deal to buy a company. CAPITAL FLEXIBILITYUnlike a SPAC, the amount of money SPARC seeks from investors will vary based on the size of the deal it pursues. This means that SPARC investors will not be diluted by such warrants and will get to keep more of the company.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Ackman, Tontine, Svea Herbst, Bayliss, Lisa Shumaker Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings, SPARC, U.S . Securities, Exchange Commission, SEC, Pershing, Tontine Holdings, Universal Music Group, SPACs, Svea, Thomson Locations: Las Vegas , Nevada, U.S, New York, Rhode Island

☆ Bill Ackman says he hasn't talked to Elon Musk about X investment for Pershing 'SPARC'
▼ + stars: | 2023-10-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Bill Ackman on Monday told CNBC he had not spoken with Elon Musk about a deal involving X, formerly known as Twitter, but that he likes the business and Musk and suggested a deal with X would be welcome if Musk wanted it. The billionaire CEO of Pershing Square Holdings was discussing his new carve-out vehicle, which he called a SPARC, or special purpose acquisition rights company. The product is similar to a SPAC, but Ackman said that Pershing's structure would only invest in companies it views as long-term investments. Ackman made waves in a Sunday interview with the Wall Street Journal, where he said he would "absolutely" invest in X through his new SPARC structure. If part of X were to debut on the market, it would likely be at a valuation far below the $44 billion that Musk paid for it.

Persons: Bill Ackman, Elon Musk, Musk, he's, Ackman, CNBC's Andrew Ross Sorkin, SPACs, Linda Yaccarino's, maven Organizations: Monday, CNBC, Elon, Pershing Square Holdings, SPARC, Financial Times, Wall Street, Meta Locations: —

☆ Bill Ackman: Seeing lots of evidence of weakening in the economy
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Ackman: Seeing lots of evidence of weakening in the economyBill Ackman, Pershing Square Capital Management founder and CEO, joins 'Squawk Box' to discuss the regulatory approval of a unique SPAC structure called SPARC — a special purpose acquisition rights company — in which Ackman will inform investors of a potential acquisition before they pledge funds, potential interest in Elon Musk's X, the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Bill Ackman, Elon Musk's Organizations: Pershing, Capital Management, Elon Locations: U.S

☆ Bill Ackman on new 'SPARC' structure, potential deal with Elon Musk's X
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Ackman on new 'SPARC' structure, potential deal with Elon Musk's XBill Ackman, Pershing Square Capital Management founder and CEO, joins 'Squawk Box' to discuss the regulatory approval of a unique SPAC structure called SPARC — a special purpose acquisition rights company — in which Ackman will inform investors of a potential acquisition before they pledge funds, potential interest in Elon Musk's X, the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Bill Ackman, Elon Musk's Organizations: SPARC, Elon, Pershing, Capital Management Locations: U.S

☆ Billionaire investor Bill Ackman says he would be 'absolutely' interested in a deal with Elon Musk's X
▼ + stars: | 2023-10-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Billionaire investor Bill Ackman told the WSJ he would be interested in a deal with Elon Musk's X. However, he caveated that by saying he doesn't know if X is interested, or if the deal is doable. AdvertisementAdvertisementBillionaire investor Bill Ackman said he would be interested in a deal with Elon Musk's X Corp, the Wall Street Journal reported Sunday. While Ackman said he would "absolutely" be interested in a deal with X — the platform previously known as Twitter — he doesn't know if X is interested, or if the deal is doable, per the Journal. X told the Journal it had no comment.

Persons: Bill Ackman, Elon Musk's, —, Ackman, X, Musk, Pershing Organizations: Elon, Ackman's Pershing, Service, Elon Musk's X Corp, Wall Street, Twitter, X, Pershing

☆ Watch CNBC's full interview with Pershing Square Capital Management CEO Bill Ackman
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Pershing Square Capital Management CEO Bill AckmanBill Ackman, Pershing Square Capital Management founder and CEO, joins 'Squawk Box' to discuss the regulatory approval of a unique SPAC structure called SPARC — a special purpose acquisition rights company — in which Ackman will inform investors of a potential acquisition before they pledge funds, potential interest in Elon Musk's X, the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Bill Ackman Bill Ackman, Elon Musk's Organizations: Pershing Square Capital Management, Pershing, Capital Management, Elon Locations: U.S

☆ Bill Ackman says the economy is starting to slow and the Fed is likely done hiking
▼ + stars: | 2023-10-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Pershing Square's Bill Ackman on Monday sounded alarms on the economy, which he believes has begun to decelerate on the back of aggressive rate hikes. I think the economy is starting to slow," Ackman said on CNBC's "Squawk Box." "I think the level of real interest rates is high enough to slow things down." "High mortgage rates ... high credit card rates, they're starting to really have an impact on the economy," Ackman said. "The 30 year Treasury is likely to go higher," Ackman said.

Persons: Pershing, Bill Ackman, Ackman Organizations: Federal Reserve, Treasury, Securities, Exchange Commission

☆ Ackman's SPARC is seeking new deals with private companies
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo Acquire Licensing RightsOct 1 (Reuters) - Pershing Square SPARC Holdings Ltd, said that it will pursue business combinations with privately-held companies after receiving regulatory approval from U.S regulators for distributing special purpose acquisition rights. The SPARC, an affiliate of billionaire investor Bill Ackman's Pershing Square Tontine Holdings Ltd, is targeting companies that seek to raise a minimum of $1.5 billion of capital, it said in a regulatory filing on Friday. Ackman's SPARC is a variation of a special purpose acquisition company (SPAC), the market for which has cooled since its peak in 2021 as investors nursed losses on many deals. Ackman added that he has no idea if X is interested and would still need to determine whether or not a deal is doable.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Elon Musk's, Ackman, Elon Musk, Jose Joseph Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings Ltd, SPARC, Tontine Holdings, Wall, Elon, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

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