PSHZF - A Leveraged Bet On Value Investing's Comeback Kid
There are plenty of reasons not to like Bill Ackman. He had a five-year run of underperformance while the market went straight up. His arrogance led him into several disastrous investments. And his PowerPoint presentations are way too long. Yet, if one examines his career from a long-term perspective, it's hard to justify betting against his firm. Ackman has a funny way of coming back in a big way after disasters. These past few years, it looks like he has changed his attitude and restructured his firm, Pershing Square, leading to a resurgence in performance.