MI368: Bill Ackman: The Highs and Lows w/ Shawn O'Malley

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 9 September 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s episode, Shawn O’Malley (@Shawn_OMalley_) breaks down the rollercoaster ride of Bill Ackman’s career, who is one of the most famous investors alive. You’ll learn about how Ackman’s career got its start, why his biggest successes were so brilliant, why his biggest losses were so painful, what his current portfolio looks like, why his company is looking to IPO, and what sparked his decade-plus feud with billionaire Carl Icahn, plus so much more! IN THIS EPISODE, YOU’LL LEARN 00:00 - Intro 02:24 - How Bill Ackman’s career got its start 03:56 - What started the feud between Bill Ackman and Carl Icahn 08:38 - Why Ackman’s first hedge fund, Gotham Partners, failed 15:54 - How Ackman was able to foresee MBIA’s collapse and the 2008 Financial Crisis 19:39 - Why Ackman wanted Wendy’s to spin off Tim Horton’s 22:01 - How Ackman made one of the greatest hedge fund trades ever 30:14 - Why Ackman’s campaign against Herbalife was a financial fiasco but not necessarily wrong 31:36 - What Ackman got incorrect about Valeant Pharmaceuticals 44:37 - What Ackman’s portfolio looks like today and his latest ventures And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Bill Ackman’s question at the 1998 Berkshire shareholder meeting. 2003 NYT article on Gotham Partners. Highlights from the Bill Ackman and Carl Icahn debate over Herbalife. Christine Richard's book, Confidence Game. Bill Ackman’s research on MBIA. Bill Ackman’s letter to Wendy’s CEO in 2005. Check out Betting On Zero — Herbalife movie. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Shawn: Twitter | LinkedIn | Email HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.7	Hey guys, welcome to the millennial investing podcast.
0:06.7	I'm your host, Sean O'Malley.
0:09.0	On today's episode, I'll be highlighting the career in life of one of today's most popular
0:13.6	value investors, Bill Ackman.
0:15.9	Ackman is a billionaire hedge fund manager and the CEO of the investment management firm,
0:20.4	Pershing Square,
0:21.2	who has gained significant cultural prominence via his more than 1.3 million followers on Twitter,
0:26.7	also known as X.
0:28.0	Ackman is an incredibly successful investor in businessman, while also a very mainstream media
0:33.2	voice, which is not something you can say for many great value investors besides Warren Buffett.
0:37.4	You may or may not already have your own opinions about Ackman's social and political views,
0:41.3	but my hope today is to tell his story as an investor and see what we can learn from it.
0:46.3	At a minimum, it's helpful to learn about Bill Ackman because his following is so large and can
0:51.3	quite literally impact markets.
0:53.3	Investors who invested in his hedge fund at its
0:55.7	inception on January 1st, 2004, and transferred their funds into his closed-in mutual fund,
1:00.8	which launched December 31st, 2012, would have earned a 16.5% compounded annual return over
1:06.8	the last 20 years compared with the 10% return from the S&P 500 during that same period.
1:11.9	I'm going to dig into his career swings, market dramas, and winning investments that made
1:16.4	Ackman into who he is today.
1:18.8	It really is a fascinating story and a roller coaster ride and one that might be recognizable
	...

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