Bill Ackman
Showing 1–7 of 7 transcripts.
- All-In Podcast30 min
Bill Ackman: Here's What the Market is MISSING
Bill Ackman, Chamath, Jason, David
Howard Ackman outlines a strategic evolution at Pershing Square toward concentrated long-term holdings in high-quality businesses, leveraging deep board involvement to counteract market short-termism and capitalize on undervalued legacy tech giants amidst AI-driven disruption. His approach extends to late-stage founder-led ventures like SpaceX and XAI, which he values through a venture capital lens of people and opportunity, while simultaneously repurposing the Howard Hughes Corporation into a "Berkshire 2.0" model that utilizes real estate cash flows to fund an insurance float for tax-efficient capital compounding. Ackman further explains how social media dynamics now enable persistent narratives to influence valuations, supporting a three-vehicle investment structure that includes a royalty-based management company, a public discount vehicle, and a transformed real estate holding to deliver sustained growth over decades.
- Lex Fridman3h 33m
Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413
Bill Ackman outlines a disciplined value investing framework centered on purchasing "non-disruptible" businesses with high barriers to entry at significant discounts to intrinsic value, while maintaining a concentrated portfolio of seven to eight high-conviction positions. The narrative details his activist strategy to rectify governance failures at companies like Canadian Pacific Railway and Universal Music Group, while also addressing his resilience following the $4 billion Valiant Pharmaceuticals loss and a fierce proxy battle against Carl Icahn over Herbalife. Ackman further discusses his controversial role in Harvard's leadership crisis, his specific geopolitical and policy views regarding free speech and the 2024 election, and his plans to launch a new fund aimed at democratizing access to elite investment strategies.
Bill Ackman's Biggest Loss of All-Time
The speaker details the forced liquidation of Gotham Partners five years before the 2008 crisis following an MBIA white paper that triggered legal investigations and regulatory actions, alongside personal hardships during a 2015 to 2017 business downturn. Applying lessons from these structural failures regarding asset-liability mismatches, the founder established Pershing Square to invest exclusively in liquid large-cap companies while prioritizing rigorous internal reviews of both realized losses and missed opportunities like the Netflix position. Ultimately, the narrative emphasizes a resilience strategy combining physical health, supportive networks, and the discipline to reset after defeats, illustrated by a $2.8 billion interest rate hedge that remains regretted only for its insufficient capital allocation.
Bill Ackman wants to give $7000 to every baby
The speaker warns that rising post-crisis wealth inequality threatens societal stability by creating a divide where asset compounding vastly outpaces wage growth. To counteract this, the proposal combines a universal "Baby Bonds" program funding $6,500 accounts for every newborn with tax reforms targeting loopholes like like-kind exchanges and unrealized gains taxes. While rejecting a broad 25% tax on appreciation for risking a liquidity crisis in startups, the speaker argues that closing specific loopholes to fund these bonds is essential for providing every citizen a permanent economic stake without harming business formation.
Bill Ackman: SVB Collapse, Biden vs Trump, How I Lost $400M on Netflix, Bill's 10-Year Long
Bill Ackman, Biden, Trump, Harry Stebbings
Bill Ackman and David Berkowitz launched their partnership with a $3.1 million fund by leveraging a shared track record of high achievement and living together to minimize initial costs. Following significant setbacks during the 2008 financial crisis, Ackman restructured Pershing Square to invest exclusively in liquid large-cap public companies while maintaining a disciplined approach to position sizing based on the risk of permanent capital impairment. In current markets, Ackman advocates for immediate federal guarantees on all bank deposits to prevent runs, argues that persistent inflation requires the Federal Reserve to pause rate hikes, and proposes policy reforms such as universal baby bonds to address wealth inequality.
- All-In Podcast1h 14m
E65: VC markup dynamics, Russia/US tensions over Ukraine, Altos Labs raises $3B, Stripe mafia & more
Chamath, Putin, Obama, Bill Ackman, Yamanaka, Jason, David Sacks, David Friedberg
Investors David Friedberg, Jay Hogue, Bill Gurley, and Chamath Palihapitiya analyzed current market volatility, venture capital valuation mechanics, and geopolitical risks while debating the strategic separation of long-term investing from short-term trading. The panelists contrasted the structural disincentives for marking down portfolio companies with a consensus that supply chain disruptions, rather than interest rates, currently pose the primary threat to the US economy. Looking forward, the group identified opportunities in fundamentally strong growth stocks despite sector corrections, warned against NATO expansion escalating the Ukraine conflict, and predicted a rapid resolution to global supply bottlenecks alongside a paradigm shift in biotech age reversal research.
- All-In Podcast1h 37m
E64: Antitrust standards & enforcement, tech repricing, lab leak obfuscation, E63 reactions & more
Calacanis, Friedberg, Lina Khan, Kara Swisher, Andrew Ross Sorkin, Sen. Dianne Feinstein, Sen. Alex Padilla, Bill Ackman, Gavin Baker, Jonathan Chait, Chamath Palihapitiya, David Sacks
Chamath Palihapitiya and David Sacks navigated intense scrutiny regarding Uyghur human rights while debating the dangers of cancel culture and the complexities of China-U.S. geopolitics. The hosts further dissected the FTC's shifting antitrust standards following Microsoft's $68 billion Activision acquisition, analyzed the macroeconomic risks of a potential recession alongside Netflix's valuation challenges, and scrutinized newly released emails suggesting the NIH suppressed lab leak theories early in the pandemic. The conversation concluded with insights into decentralized manufacturing via Jamie Friedberg's new Canna startup and a broader call for independent journalism to navigate an increasingly polarized information landscape.