Bill Ackman of Pershing Square Capital Management has been right some many times this year it's scary.
He predicted the demise of the monoline bond-insurers, such as MBIA(MBI Quote) and Ambac(ABK Quote), well before the credit crunch really hit the economy. Ackman began shorting shares of MBIA north of $60 and Ambac north of $75; MBI now trades at $6 and Ambac at 76 cents. Ackman also owned 25% of Longs Drugs(LDG Quote) back in mid-September. Within three weeks of Pershing Square's, purchase, Longs was bought out for a nice 30% premium. So when Pershing Square, an $8 billion-plus activist hedge fund that has had returns of 40% or more over the past two years, filed its latest equity holdings, we paid close attention. To read more, visit Stockpickr.com.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,464.40 | 1,110.63 | 2,176.05 | 32.79 |
Oil *
78.36
|
|
UP
30.69
|
UP
4.98
|
UP
6.87
|
DOWN
0.38
|
10 Yr
3.28%
SPDR Gold
116.62
|
|
+0.29%
|
+0.45%
|
+0.32%
|
-1.15%
|
Data delayed 20 minutes |














