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He suggested that most mutual funds are over-diversified and short-term, charging high fees without delivering commensurate returns.
The book stressed the significance of distinguishing between price and value, a lesson that Ackman has applied throughout his career.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Pershing Square Capital founder details the move in a letter to investors
Bill Ackman yesterday announced his New York-based Pershing Square Capital Management was parting with the investment due to the firm's 'unpredictable' future.