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The Knowledge Project with Shane Parrish

#82 Bill Ackman: Getting Back Up

The Knowledge Project with Shane Parrish

Farnam Street

Business, Investing, Entrepreneurship

4.72.9K Ratings

🗓️ 28 April 2020

⏱️ 100 minutes

🧾️ Download transcript

Summary

Legendary activist investor, Bill Ackman talks about lessons he’s learned growing up, raising a family, what drives him forward and back up from failure, consuming information and ideas, and facing criticism.

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Transcript

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0:00.0

So I've always had this view that success is not a straight line up and you know if you read the stories of successful people almost every successful person.

0:10.7

I've had to deal with you know some degree of hardship and I've always had the view that how successful you are is really a function of how you deal with failure.

0:20.7

And if you deal with failure well and you persist you have a high probability of being successful so I've always kind of had that view.

0:28.9

And then I had to apply it to myself certainly a few times.

0:42.4

Hello and welcome. I'm Shane Parrish and you're listening to the Knowledge Project, a podcast dedicated to mastering the best of what other people have already figured out.

0:50.9

This podcast and our website, FS.Blog, help you better understand yourself in the world around you by exploring the methods, ideas and mental models from some of the most incredible people in the world.

1:01.9

If you enjoy this podcast we've created a premium version that brings you even more. You get an ad free version of the show like you won't hear this.

1:09.4

You get early access to episodes you would have heard this last week transcripts and so much more.

1:14.9

If you want to learn more now head on over to FS.Blog slash podcast or check out the show notes for a link.

1:20.9

For both the price of two cups of coffee you can help us.

1:25.1

Before we get to today's show a disclaimer.

1:29.5

You'll see why the disclaimer is necessary after the disclaimer.

1:32.9

Shane Parrish is the CEO of Fernum Street Media. All opinions expressed by me and podcast guests are solely their own opinions and do not reflect the opinion of Fernum Street Media or its parent company or its affiliates.

1:46.4

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions or anything else.

1:54.4

Shane, Fernum Street or friends of Shane may maintain positions and securities discussed in this podcast.

2:01.4

Neither Fernum Street, nor its affiliates and or subsidiaries warrant completeness or accuracy of the opinions expressed herein and they should not be relied upon as such.

2:10.9

Okay, so why is all that necessary? Well today I'm talking about the legendary investor Bill Ackman.

2:16.4

Bill is an investor and fund manager as well as the CEO of Perishing Square Capital Management.

2:23.4

In this in-depth interview we're going to talk about what drives him, the lessons he's learned from his parents, coming back from failure more than once, information consumption and ideas or saying, the role of ETFs, facing criticism, nutrition, COVID, the lessons he tries to teach his kids,

2:39.4

and of course, stocks. It's time to listen and learn.

2:52.4

The Knowledge Project is sponsored by Metal Lab. For a decade Metal Lab has helped some of the world's top companies and entrepreneurs build products that millions of people use every day.

3:01.4

You probably didn't realize that at the time but odds are you've used an app that they've helped design or build apps like Slack, Coinbase, Facebook Messenger, Oculus, Lonely Planet and many more.

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