FT News Briefing Can Bill Ackman create a Berkshire Hathaway rival?
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May 16, 2025 Discussing Japan's strategy for a better trade deal with the U.S., the conversation shifts to Bill Ackman's ambitious plans to rival Berkshire Hathaway, examining his investment strategies and past hurdles. The political landscape in Poland is another focal point, as upcoming elections could shift the tide for liberalism in Europe, with key issues like abortion rights coming to the forefront. The show offers insights into how these events could shape domestic and international politics.
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Japan Holds Out for Better US Deal
- Japan is refusing to accept a mediocre trade deal with the US and is focused on protecting its car industry.
- Political pressure from upcoming elections is driving Japan to hold out for better terms, especially on auto tariffs.
Ackman's Berkshire Rival Ambition
- Bill Ackman aims to transform a real estate company into a Berkshire Hathaway-like investment conglomerate.
- His approach includes standing up an insurance company to generate investable cash and acquiring diversified businesses.
Challenges for Ackman's Strategy
- Ackman's Howard Hughes faces high capital costs and a tough track record in M&A investments.
- The market reaction has been muted, showing skepticism compared to Berkshire Hathaway's established reputation.