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What Bill Ackman thinks about stock market

@bill-ackman · 22 positions · 0 changes of mind

Founder and chief executive of Pershing Square Capital Management, the activist investment firm he started in 2004.

Bill Ackman did not write this page.

We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.

4 dated positions, 2024, in their own words. Our reading of what Bill Ackman has said — not written or endorsed by them.

4 positions so far — this page is not yet offered to search engines.

  1. Our readingInvesting well requires reversing the human instinct to grow excited as prices rise and fearful as they fall.

    Their wordsPeople tend to get excited about investments when stocks are going up and they get depressed when they're going down. And I think that's just inherently human. You have to reverse that. You have to get excited when things get cheaper and you got to get concerned when things get more expensive.

    ↗Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413youtube.com 8th of 22 in this recording

    investing

    Interesting

  3. Our readingAlmost no mutual fund earns the fees it charges, so most investors are better off buying an index fund.

    Their wordsThere are very few that earn their keep in terms of the fees they charge. They tend to be too diversified and too short-term. And you're often much better off just buying an index fund.

    ↗Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413youtube.com 10th of 22 in this recording

    investing

    Interesting

  5. Our readingShareholder activism restored the balance of power between a company's owners and its managers, and that has been good for the US stock market.

    Their wordsAnd what activism has done, and I think we've helped lead this movement, is it restored the balance of power between the owners of the business and the management of the company. And that's been a very good thing for the performance of the US stock market actually.

    ↗Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413youtube.com 13th of 22 in this recording

    management

    Interesting

  7. Our readingShort selling is inherently treacherous and should almost never be done.

    Their wordsSo we at Pershing Square short a very few stocks. And the reason for that is short selling is just inherently treacherous.

    ↗Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413youtube.com 16th of 22 in this recording

    Interesting