Where I come from, a comparison to the legendary Carl Icahn is a win. Hedge fund manager Bill Ackman (Pershing Square) doesn’t see it that way…
From the New York Observer:
While he prefers to see his seven-year-old fund in the same positive light as many people view the work of Mr. Buffet, comparisons are more often made to Mr. Icahn. Both he and Mr. Ackman are known for their activist investing, taking huge stakes in the bluest of blue-chip companies and then agitating for changes they believe will improve the stock price. Mr. Ackman, who considers his work as benevolent and beneficial—not just to the companies but also to the entire country—hates the comparison to the notorious corporate raider.
That comes from a great Observer profile of Ackman that I just got around to today. My friend Mark blogged it at Fund My Mutual Fund, too.
Anyway, can Ackman ever really match Buffett’s accomplishments as an investor?
“I want to have one of the great investment records of all time, why not?”
“That’s why I have to be healthy,” Mr. Ackman continued. “It’s not just compounding a high rate; it’s living a long time. Buffett has a 55-year-old record. I’ve got a seven-and-a-half-year-old record. It’s going to be 90-I’ll be almost 90 by the time I’ve got a 50-year history.”
This is tonight’s reading assignment, head over below…