The Powers That Be: Daily
Ackman’s Gamble & Trump’s New Money Club
Jul 31, 2024
William D. Cohan, a seasoned financial journalist, joins to unpack the rollercoaster of Bill Ackman’s new fund designed for everyday investors. They dive into how Ackman's tactics mirror Warren Buffett’s and debate whether his controversial reputation could hinder success. The conversation shifts to the unexpected union of wealthy investors with political figures like Donald Trump, analyzing how social media reshapes finance and attracts younger investors. Cohan also critiques the political views of affluent leaders, questioning their sincerity amid financial prowess.
26:56
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Quick takeaways
- Bill Ackman's launch of Pershing Square USA aims to democratize investment strategies, but faces skepticism due to PR challenges.
- Wealthy investors like Ackman and Musk exhibit political confidence despite questionable insights, reflecting a gap between financial success and political expertise.
Deep dives
Bill Ackman's New Investment Fund
Bill Ackman has launched a new closed-end investment fund that aims to attract everyday investors by mirroring his hedge fund strategies. This fund, which will have a low buy-in price of around $50, is designed to democratize investment opportunities, allowing a wider audience access to Ackman’s established strategies. However, Ackman's approach has been met with skepticism as he faces tumultuous public relations challenges and potential legal obstacles regarding disclosures. The mix of appealing to average investors while navigating the complexities of hedge fund investments raises questions about the fund's stability and future success.
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