Bill Ackman on Investing, Politics, and Turning Howard Hughes into a Modern-Day Berkshire Hathaway
The World According to Boyar
Intro
This chapter introduces a high-profile discussion on a significant investment transaction involving Howard Hughes, as the host sets the stage for a deeper exploration of related social and political issues. It highlights the importance of diverse perspectives in navigating complex topics, preparing listeners for a multifaceted dialogue.
Episode Summary:
In this episode of The World According to Boyar, Jonathan Boyar sits down with Bill Ackman, the legendary hedge fund manager and founder of Pershing Square, to discuss his latest big move involving Howard Hughes, his unfiltered views on politics, and his growing role as an activist investor. Ackman shares his thoughts on the Trump administration, deregulation, and why he believes reducing government inefficiency could be a game changer for the U.S. economy.
On the investing front, he dives into his bid to increase his stake in Howard Hughes Corporation, his vision for transforming it into a "modern-day Berkshire Hathaway," and why he believes the market continues to misprice the company. He also addresses concerns about management fees, corporate governance, and what his long-term plans mean for shareholders.
Finally, Ackman opens up about his outspoken presence on X (formerly Twitter), why he’s been so vocal on antisemitism and media bias, and how he sees this as part of a larger battle over free speech, democracy, and American values.
This is a must-listen episode for investors, market watchers, and anyone interested in how one of the most well-known investors in finance connects the dots between business, politics, and activism.
Topics Discussed:
🔹 Ackman’s Take on the Trump Administration – Why he believes progress is being made, the risks of moving too fast, and how deregulation could impact everything from defense spending to healthcare.
🔹 The DOGE Initiative & Government Inefficiency – Why he believes slashing bureaucracy and eliminating waste could significantly boost economic growth.
🔹 Howard Hughes Corporation – His plan to increase his stake, take on a leadership role, and turn the company into a diversified investment powerhouse.
🔹 Activism & Media Bias – Why he’s taken a public stance on antisemitism, free speech, and how he believes media narratives are distorting public perception.
🔹 His Investing Philosophy – How he approaches capital allocation, business strategy, and why he thinks some of Berkshire Hathaway’s best days could still be ahead.
🔹 And much more!
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https://boyarresearch.substack.com/
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Biography:
Bill Ackman is the CEO of Pershing Square Capital Management, L.P. which he founded in 2003. He is a member of the board of Universal Music Group N.V. (NA:UMG).
He serves as a member of the Investor Advisory Committee on Financial Markets for the Federal Reserve Bank of New York and as a member of the Board of Dean’s Advisors of the Harvard Business School.
Mr. Ackman is co-trustee of The Pershing Square Foundation, part of Pershing Square Philanthropies, that bets on innovative leaders solving humanity’s big societal, environmental, and health challenges.
The Boyar Value Group: Uncovering Investment Opportunities Since 1975
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Disclosure
This podcast is for informational and educational purposes only and should not be considered investment advice, a recommendation to buy or sell any security, or an offer to provide investment advisory services. The views expressed by guests are their own and do not necessarily reflect the views of Boyar Research or its affiliates. Boyar Research, its affiliates, employees, and accounts managed by its affiliates may own shares of companies mentioned in this episode. Our vi...
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