Bill Ackman on building the next Berkshire, AI & his next 10-bagger

Bill Ackman turned a two-person investment club into Pershing Square, a $33 billion investment giant built on high-conviction bets and some of Wall Street’s most famous battles. In New York, Bryce & Ren sit down with the billionaire investor to get his take on whether AI is a bubble, why he sold Alphabet and bought back into Netflix, and his plan to turn Howard Hughes into a modern-day Berkshire Hathaway. Plus, a surprising story about Warren Buffett, and Bill gives his verdict on Bryce & Ren’s own portfolios.

In this episode:

00:00 Bill Ackman's Biggest Wins, Losses And Lessons

07:15 Inside The Pershing Square Empire

09:42 Is AI The Biggest Investment Opportunity Or A Bubble?

11:03 Could AI Become A Threat To Humanity?

14:31 Why Bill Is Bullish On Big Tech's AI Spending

16:42 Interest Rates, Inflation And The Fed's Next Move

21:39 Where Bill Sees Opportunities And Hidden Risks

24:40 The Investment Philosophy Behind His Billions

28:09 Why Bill Ackman Is No Longer An Activist Investor

30:02 What Makes A Business Almost Impossible To Disrupt?

32:02 Why He Only Owns A Handful Of Stocks

35:32 Why Bill Sold Netflix And Then Bought It Back

38:19 Why He Sold Alphabet But Still Owns Big Tech

41:08 How Bill Judges CEOs And Uses AI To Research Stocks

44:10 What Warren Buffett Taught Bill Ackman

47:31 The Secret Behind Berkshire Hathaway's Success

50:09 Building The Next Berkshire With Howard Hughes

55:36 Why Insurance Is The Key To His Next Big Bet

59:24 Bill Ackman Reviews Our Stock Portfolios

01:05:37 Why Great Stocks Are Getting Cheaper

01:06:50 Bill's High-Conviction Bet On Fannie Mae And Freddie Mac

01:08:39 His Biggest Piece Of Advice For Everyday Investors

Stocks & ETFs Mentioned: Pershing Square Inc. (NYSE: PS), Pershing Square USA (NYSE: PSUS), Pershing Square Holdings (LSE: PSH), Berkshire Hathaway (NYSE: BRK.B), Canadian Pacific Kansas City (NYSE: CP), Herbalife (NYSE: HLF), Bausch Health (NYSE: BHC), Wells Fargo (NYSE: WFC), Blackstone (NYSE: BX), KKR (NYSE: KKR), Howard Hughes Holdings (NYSE: HHH), Meta Platforms (NASDAQ: META), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), SpaceX (NASDAQ: SPCX), Apollo Global Management (NYSE: APO), Uber (NYSE: UBER), Restaurant Brands International (NYSE: QSR), Wendy’s (NASDAQ: WEN), Netflix (NASDAQ: NFLX), Alphabet (NASDAQ: GOOGL), Visa (NYSE: V), Mastercard (NYSE: MA), Simon Property Group (NYSE: SPG), Apple (NASDAQ: AAPL), Axon Enterprise (NASDAQ: AXON), Eli Lilly (NYSE: LLY), Spotify (NYSE: SPOT), Universal Music Group (Euronext Amsterdam: UMG), Intuitive Surgical (NASDAQ: ISRG), TransMedics (NASDAQ: TMDX), MercadoLibre (NASDAQ: MELI), Sea Limited (NYSE: SE), Fannie Mae (OTC: FNMA), Freddie Mac (OTC: FMCC)

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This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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