farnamstreet Posted November 23, 2011 Share Posted November 23, 2011 http://myinvestingnotebook.blogspot.com/2011/11/bill-ackman-pershing-square-3q-2011.html Link to comment Share on other sites More sharing options...
Liberty Posted August 13, 2014 Share Posted August 13, 2014 2014 Q2 letter: http://www.scribd.com/doc/236712968/Pershing-Sqr-1Q-2Q-2014-Investor-Letter-1-1 Nice shoutout to Ian Cummings and Joe Steinberg in the intro. 21% after-fees CAGR over 10.5 years with average of 14% cash. 27.7% gross CAGR over same period. Not bad. The part about Allergan's management is worth reading. Link to comment Share on other sites More sharing options...
PLynchJr Posted August 13, 2014 Share Posted August 13, 2014 Not bad? Man some people are hard to please! ;) Link to comment Share on other sites More sharing options...
Liberty Posted August 13, 2014 Share Posted August 13, 2014 I should probably have used a smiley next to "not bad" :D Link to comment Share on other sites More sharing options...
learner Posted August 13, 2014 Share Posted August 13, 2014 The link (http://www.scribd.com/doc//Pershing-Sqr-1Q-2Q-2014-Investor-Letter-1-1) doesnt seem to be working. Do you mind reposting the link? Link to comment Share on other sites More sharing options...
Liberty Posted August 13, 2014 Share Posted August 13, 2014 The link (http://www.scribd.com/doc//Pershing-Sqr-1Q-2Q-2014-Investor-Letter-1-1) doesnt seem to be working. Do you mind reposting the link? Sorry about that. I've updated it above, and here it is again: http://www.scribd.com/doc/236712968/Pershing-Sqr-1Q-2Q-2014-Investor-Letter-1-1 btw, if anyone has just the PDF version, I'd really appreciate it. I hate how Scribd makes it impossible to save anything, even if they don't actually own it. Link to comment Share on other sites More sharing options...
jay21 Posted August 14, 2014 Share Posted August 14, 2014 Does anyone have a good idea on what he plans with PSH? Is it just capital for his hedge fund or is he going to acquire companies? Thanks Link to comment Share on other sites More sharing options...
peter1234 Posted August 14, 2014 Share Posted August 14, 2014 Does anyone have a good idea on what he plans with PSH? Is it just capital for his hedge fund or is he going to acquire companies? Thanks I believe it is just permanent capital to be invested in his regular funds. PSH was formed over 2 years ago and has attracted significant assets (some LPs converted their regular stakes). ;) Link to comment Share on other sites More sharing options...
muscleman Posted August 15, 2014 Share Posted August 15, 2014 Do you want to invest through PSH? I think due to his long holding periods, it may be better to just buy the stocks that he has announced? Link to comment Share on other sites More sharing options...
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