Bill Ackman: Berkshire Stock to “Increase Substantially”

August 15, 2019 | Hedge Funds
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Has Pershing Square been summoned to bail out the Oracle of Omaha?

Bill Ackman said in a letter to shareholders that Berkshire Hathaway stock will bolster returns for the fund.

The letter comes shortly after Ackman revealed a sizeable stake in Warren Buffett’s iconic firm.

The timing of the $700 million purchase of Berkshire B stock had raised a few eyebrows around the hedge fund commentary world. After all, Berkshire just took a $4 billion hit in a week due after Kraft Heinz fell to a record low.

Bill Ackman up almost 50% in 2019

Pershing Square Holdings is up roughly 48% on the year due to timely buys in Starbucks and Chipotle. Now, Ackman’s fund is taking a passive stake in Berkshire.

Shareholders must hope that Berkshire can reverse the 10% decline the stock has seen this year. Before anyone starts biting their nails, note that Ackman is taking the long approach.

“We believe that Berkshire’s share price is likely to increase substantially over the coming years,” Ackman wrote.

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