Show Notes
Bill Ackman turned a two-person investment club into Pershing Square, a $33 billion investment giant built on high-conviction bets and some of Wall Street’s most famous battles. In New York, Bryce & Ren sit down with the billionaire investor to get his take on whether AI is a bubble, why he sold Alphabet and bought back into Netflix, and his plan to turn Howard Hughes into a modern-day Berkshire Hathaway. Plus, a surprising story about Warren Buffett, and Bill gives his verdict on Bryce & Ren’s own portfolios.
In this episode: 00:00 Bill Ackman's Biggest Wins, Losses And Lessons 07:15 Inside The Pershing Square Empire 09:42 Is AI The Biggest Investment Opportunity Or A Bubble? 11:03 Could AI Become A Threat To Humanity? 14:31 Why Bill Is Bullish On Big Tech's AI Spending 16:42 Interest Rates, Inflation And The Fed's Next Move 21:39 Where Bill Sees Opportunities And Hidden Risks 24:40 The Investment Philosophy Behind His Billions 28:09 Why Bill Ackman Is No Longer An Activist Investor 30:02 What Makes A Business Almost Impossible To Disrupt? 32:02 Why He Only Owns A Handful Of Stocks 35:32 Why Bill Sold Netflix And Then Bought It Back 38:19 Why He Sold Alphabet But Still Owns Big Tech 41:08 How Bill Judges CEOs And Uses AI To Research Stocks 44:10 What Warren Buffett Taught Bill Ackman 47:31 The Secret Behind Berkshire Hathaway's Success 50:09 Building The Next Berkshire With Howard Hughes 55:36 Why Insurance Is The Key To His Next Big Bet 59:24 Bill Ackman Reviews Our Stock Portfolios 01:05:37 Why Great Stocks Are Getting Cheaper 01:06:50 Bill's High-Conviction Bet On Fannie Mae And Freddie Mac 01:08:39 His Biggest Piece Of Advice For Everyday Investors
Stocks & ETFs Mentioned: Pershing Square Inc. (NYSE: PS), Pershing Square USA (NYSE: PSUS), Pershing Square Holdings (LSE: PSH), Berkshire Hathaway (NYSE: BRK.B), Canadian Pacific Kansas City (NYSE: CP), Herbalife (NYSE: HLF), Bausch Health (NYSE: BHC), Wells Fargo (NYSE: WFC), Blackstone (NYSE: BX), KKR (NYSE: KKR), Howard Hughes Holdings (NYSE: HHH), Meta Platforms (NASDAQ: META), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), SpaceX (NASDAQ: SPCX), Apollo Global Management (NYSE: APO), Uber (NYSE: UBER), Restaurant Brands International (NYSE: QSR), Wendy’s (NASDAQ: WEN), Netflix (NASDAQ: NFLX), Alphabet (NASDAQ: GOOGL), Visa (NYSE: V), Mastercard (NYSE: MA), Simon Property Group (NYSE: SPG), Apple (NASDAQ: AAPL), Axon Enterprise (NASDAQ: AXON), Eli Lilly (NYSE: LLY), Spotify (NYSE: SPOT), Universal Music Group (Euronext Amsterdam: UMG), Intuitive Surgical (NASDAQ: ISRG), TransMedics (NASDAQ: TMDX), MercadoLibre (NASDAQ: MELI), Sea Limited (NYSE: SE), Fannie Mae (OTC: FNMA), Freddie Mac (OTC: FMCC)
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