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william albert ackman is an american philanthropist investor and hedge fund manager in 2020 he was ranked america's 25th richest hedge fund manager with a current net worth of over 2.2 billion us dollars although people consider ackman as a contrarian investor he considers himself an activist investor he became a billionaire through operating the pershing square capital management hedge fund that he founded in 2004 while he became famous in the financial world for his short position on the bond insurer nbia and his rescue of the mall operator general growth early on in his trading career but bill ackman's career has been a roller coaster over the last several years over the course of half a decade he went from being one of the most well-regarded hedge fund managers in the industry to having a string of well-publicized failures as a result of shorting herbalife and betting on valiant billionaires are not normally known for their humility so you know things have gone wrong when a billionaire hedge fund manager has to publicly admit that they were wrong but that's exactly what pershing square capital management founder and chief executive did in a surprising apology he wrote to his shareholders a few years ago because of this we've decided to debunk bill ackman's portfolio ackman co-founded the pershing square foundation with his wife karen in 2006.
it aims to support innovation in the areas of education economic development human rights healthcare urban development and arts since its founding the foundation has committed more than 400 million dollars in social investments and grants in 2011 the ackmans were in the chronicle of philanthropy's philanthropy 50 list for the most generous donors while in 2014 the challenged athletes foundation honored ackman at a gala fundraiser at the new york city's waldorf astoria hotel because he helped raise a record 2.3 million dollars but though bill ackman and his pershing square hedge fund were both large winners throughout 2014 the same can't be said for 2015.
according to reuters ackman's pershing square fund lost between 16 to 20 in 2015. in fact he even admitted to investors that he made several errors throughout the difficult year perhaps the biggest trade associated with bill ackman is his conviction short of a health supplement company herbalife limited in december 2012 akman famously made a short bet against herbalife an investment that makes money when the stock price falls ackman called the nutritional supplements company a pyramid scheme that he thought would eventually go to zero he spelled it all out in a three-hour presentation at an investment conference the trade has been chronicled at length by almost every financial news outlet even to this day and was famous for an on-air argument between ackman and carl eichen on cnbc who had taken a long position in the stuck the two traded personal burps with ackman saying that karjakin unfortunately does not have a good reputation for being a handshake guy and i can tell in ackman i wouldn't invest with you if you were the last man on earth ackman and icon buried the hatchet a year later with both men agreeing to let bygones be bygones during an investment conference in 2014 but their battle about herbalife wound up becoming the subject of a 2016 documentary called betting on zero in the weeks following his short position ackman saw herbert life shares plunge around 60 but the company has proven remarkably resilient and has rebounded to its pretty short levels lost costing ackman millions in borrowing fees and paper losses as of february 28th 2018 ackman has reportedly exited his entire short bet on herbalife originally entered about 180 us dollars per share ackman's massive 8.5 stake in the pharmaceutical company valiant has been thoroughly smashed following accusations of channel stuffing against valiant the company was battling a host of challenges including management mishaps horrible earnings and guidance slashes shady conference calls and the possibility of covenant breaches leading to technical defaults on the company's debt ackman gave up on the valiant pharmaceutical company after deciding that holding on to the company's shares was no longer worth the trouble on march 13 2017 it was reported that pershing square had sold its entire position taking a loss of more than 3 billion us dollars he later said while i and the rest of the pershing square team have suffered significant losses from this failed investment as we are collectively the largest investors in the funds it is much more painful to lose our shareholders money and for this i deeply and profoundly apologize in 2007 ackman started buying shares in the nation's second largest retailer eventually becoming its third largest shareholder he argued that target shares were undervalued and he had a plan to fix that he demanded that the company sell its credit card business and spin off its stores into a publicly traded real estate investment trust but this turned out ackman had identified the wrong problems and therefore the wrong solutions during his four years of stock ownership ackman achieved the role of dissident shareholders saying that he didn't want target to become known as a once great company however in 2009 he apologized to investors when their target investment lost 90 percent of its value experts in corporate governance and management said that target executives are probably breathing a collective sigh of relief ian maitland a professor of management at the university of minnesota's carlson school of management said one of the complaints directed at ackman was at a very difficult time for the company he was distracting management from doing what they should be doing ackman lost an expensive proxy battle against target in 2009 to add himself from four others to the company's board of directors altogether ackman and target spent an estimated 21.1 million us dollars in a battle that simply became personal another misstep in akman's career was his activist position in the now-defunct borders group after taking a stake in the bookseller in 2006 and boosting his holdings in 2008 ackman entered into loan agreements as borders tried to find a buyer for itself borders president mike edwards explained that the company had secured 505 million us dollars in debtor in possession financing from ge capital and would continue to operate through the court proceedings but his operations would be diminished by about 30 as borders would be closing 193 of its 642 stores borders failed to remain relevant in the face of increased competition from online retailers like amazon and its kindle e-reader and apple's ipad even discount retailers and its rivals barn and noble with its nook e-reader were providing competition the company's stocks have tanked along with the economy in 2008 and never managed to recover going from over 20 dollars in mid 2007 to slightly more than a dollar for most of 2010.
ackman tried to convince board as his board to merge with rivals barnes and noble last year pledging up to 960 dollars in financing according to deal book as the company delayed yet another round of payments in january 2011 bankruptcy seemed inevitable in 2011 ackman spent 900 million us dollars to acquire a stake in the struggling chain and joined the board of jc penney through ackman's agitation penny hired former apple executive ron johnson as its ceo and the result was an unmitigated disaster johnson decided to abruptly end penny's discounting and create high style stores within the store the moves alienated the retailer's core customers and sales plummeted ackman fundamentally misread penny's situation he thought the company needed a visionary like johnson who developed the apple stores to quickly re-imagine the business but in truth penny needed a ceo who would first stabilize store operations and figure out how to boost online sales bill ackman has had both big wins and also big losses in his professional investing and trading career luckily following an astonishing 58 return in 2019 he continued to handily beat the market in 2020 even as it was roiled by the coronavirus pandemic at the end of the first quarter of 2020 ackman's pershing square holdings had a net gain of 3.3 percent solidly beating s p's 500's 20 lost during the same period though ackman had considered liquidating his portfolio amid the coronavirus induced market meltdown he decided instead on a large credit hedging strategy that turned a 27 million us dollar investment into an astonishing 2.6 billion dollars ackman's hedge not only paid off but it was well timed too overall bill ackman's done a lot in his trading career he's made a few mistakes along the road but overall he's made very wise investments and he has continued to make a profit over the course of his career and that's probably why he's still one of the most talked about names in the investment industry but that's it for this video we hope this video has helped you get an insight on bill aglem's portfolio if we didn't miss anything out then feel free to leave a comment down below and we could leave a discussion down there but also leave a comment on what you would like to see a video on but other than that thank you so much for watching if you did enjoy it leave a like and subscribe for future content and we'll see you in the next debunking video you
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