The Intrinsic Value Podcast - The Investor’s Podcast Network

MI368: Bill Ackman: The Highs and Lows w/ Shawn O'Malley

Sep 9, 2024
Guest
Bill Ackman
Guest
Shawn O'Malley
Bill Ackman, a legendary investor, known for his bold strategies and polarizing track record, talks with commentator Shawn O'Malley. They dive into Ackman's career beginnings and the tumultuous highs and lows he faced, including infamous feuds, like his rivalry with Carl Icahn. Ackman reveals insights on major trades, the Herbalife controversy, and why he sought a Wendy's spin-off. Current portfolio updates and future ambitions, including a potential IPO, round out this fascinating journey through high-stakes investing.
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ANECDOTE

Ackman's Early Career

  • Bill Ackman, a Harvard MBA graduate, co-founded Gotham Partners.
  • The firm gained notoriety for a bid to purchase Rockefeller Center in 1995.
INSIGHT

MBIA and Credit Default Swaps

  • Ackman challenged MBIA's AAA credit rating in 2002, arguing they were illegally trading credit default swaps.
  • This foreshadowed the 2008 financial crisis and MBIA's downfall.
ANECDOTE

Ackman vs. Icahn

  • Ackman and Carl Icahn's feud started with a deal involving Hallwood Realty in 2003.
  • A disagreement over the definition of "sell" led to an eight-year lawsuit.
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