Monday 23 May 2016

Pershing Square: William Ackman Q1 2016

Pershing Square, William Ackman, logo

Enhanced activity by William during this last quarter! One of his investments, Valeant, have received a lot of bad publicity as well as being trashed by the Berkshire boys for conducting and using a business plan without any sense of moral. Are the old boys correct? I tend to think so.

One new holding arrived this time:

Nomad - a frozen food company that are currently head quartered on the British Virgin Islands and we all know why a company is sitting there...

For the previous report please visit Pershing Square: William Ackman Q4 2015.

Pershing Square, William Ackman, Q1, 2016

Conclusion: William kept adding into Valeant with their highly questionable business model as well as did he enter into a new holding, Nomad, sitting on the British Virgin Islands... I would not follow in his footsteps.

Source: SEC


valuetradeblog said...

"Are the old boys correct? I tend to think so."

I think so to. It's definitely one of the most interesting investment cases in the last time.


Anonymous said...

Yeah, all the figures looked excellent, the businessmodel looked excellent on paper... And yet... It went like this.

Investments like this one scares me. I mean even several famous investors fell into this one so if they with all their info and knowledge end up there... How can I then do better?

Index ETFs gets more and more attractive.

Fredrik von Oberhausen

valuetradeblog said...

It scares me to. Like you mentioned even Sequoia was invested ... with 20% of their capital (when I am remembering right)

Charlie Munger was right about this one. I think he said something about pattern recognition when dealing with people.
Buffett also weights management-quality in his decisions high. I have the feeling that they bought pcp mosty because of the Manager.

I for example like the management of Investor AB a lot. Like Sequoia i don't know if the numbers they present me are 100% right ... but I have a good feeling about them. They are no showoffs , have a long Track record and have skin in the game.