Billionaire Bill Ackman May Be the Next Warren Buffett, and 33% of His Portfolio Is Invested in 2 Brilliant Stocks
Warren Buffett took control of Berkshire Hathaway in 1965 and turned the textile mill into a holding company. He promptly diversified into insurance to create a steady stream of investable cash in the form of premium payments. Buffett used that capital to buy stocks and acquire businesses, turning Berkshire into a trillion-dollar company in the process.Billionaire Bill Ackman wants to recreate that success with Howard Hughes Holdings. His hedge fund had $1.4 billion invested in the stock as of March, and Ackman in added another $900 million in May. He plans to use Howard Hughes as a vehicle to create a "modern-day Berkshire Hathaway" by purchasing controlling interests in quality companies.Ackman is already highly visible in the financial world. His hedge fund, Pershing Square Capital, beat the S&P 500 (SNPINDEX: ^GSPC) by nearly 30 percentage points over the last five years. So Ackman could become the next Buffett if he turns Howard Hughes into a diversified Berkshire-like business.Continue reading
Warren Buffett took control of Berkshire Hathaway in 1965 and turned the textile mill into a holding company. He promptly diversified into insurance to create a steady stream of investable cash in the form of premium payments. Buffett used that capital to buy stocks and acquire businesses, turning Berkshire into a trillion-dollar company in the process.
Billionaire Bill Ackman wants to recreate that success with Howard Hughes Holdings. His hedge fund had $1.4 billion invested in the stock as of March, and Ackman in added another $900 million in May. He plans to use Howard Hughes as a vehicle to create a "modern-day Berkshire Hathaway" by purchasing controlling interests in quality companies.
Ackman is already highly visible in the financial world. His hedge fund, Pershing Square Capital, beat the S&P 500 (SNPINDEX: ^GSPC) by nearly 30 percentage points over the last five years. So Ackman could become the next Buffett if he turns Howard Hughes into a diversified Berkshire-like business.
