Read Bill Ackman’s Presentation from the Value Investing Congress
At the 3rd Annual New York Value Investing Congress on Wednesday, Bill Ackman announced that he expects the holding companies of MBIA and Ambac Financial to fail as soon as next year. Further more, he stated that he will donate the hundreds of millions which he expects to earn from those short positions to charity. You can view Bill Ackman’s presentation at pershingsquare.valueinvestingcongress.com .
Very interesting stuff…but i have to ask, why does Mr. Ackman feel it necessary to share with us what he’s going to do with the “hundreds of millions he expects to earn from these positions”?
Does Mr. Ackman want us to think he’s more likely to be right because he’s going to give the money to charity rather than put it in his bank account? I just don’t see the need for this “revelation” — I admire investors who make their money quietly. I appreciate that some are willing to share the logic behind their positions, but please save the hubris.
Comment by stopmakingcents — December 1, 2007 @ 6:34 pm