August 2013
Beginner
256 pages
6h 43m
English
Content preview from Profiting from Hedge Funds: Winning Strategies for the Little GuyBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Chapter 2
Bill Ackman
In Sweden, the big shareholders propose board members. In the U.S., board members elect new board members.
—Bill Ackman
Bill Ackman is founder and CEO of the hedge fund management firm Pershing Square Capital Management, established in 2004. His initial venture was Gotham Partners (1992), cofounded with classmate David Berkowitz, after receiving an MBA from Harvard Business School. Drawing on his prior real-estate experience with his father’s firm Ackman Brothers & Singer, Inc., early investments were primarily in the real estate sector. In spite of realizing good returns, the firm had a choppy end. Gotham bought a controlling stake in a golf-course operator, and added to the debt burden by acquiring other courses. To salvage the struggling golf business, the company planned a merger with First Union Real Estate Equity and Mortgage Investments, a cash-rich real-estate business. The union did not materialize, as a New York judge ruled in favor of certain minority shareholders who had filed a lawsuit against the merger. Reports1 that Eliot Spitzer, the New York attorney general, would investigate whether Gotham Partners manipulated stock prices by publishing intentionally misleading research and/or illegal trading practices, did not bode well for the partnership either. As redemptions increased, Gotham shelved the fund in an effort to equitably distribute both the liquid and illiquid assets.
Ackman teamed with Leucadia National’s (LUK) Ian Cumming to create ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.