MCD - Bill Ackman's Pershing Square retires from activist short campaigns

Billionaire investor Bill Ackman's Pershing Square fund has permanently retired from activist short campaigns, a strategy that has was limited to two high-profile short targets. "Despite our limited participation in this investment strategy, it has generated enormous media attention for Pershing Square," Ackman wrote in the fund's 2021 annual report. "In addition to massive amounts of media hits, our two short activist investments managed to inspire a book and a movie. Fortunately for all of us, and as importantly for our reputation as a supportive constructive owner, we have permanently retired from this line of work." Pershing Square's high profile short targets included supplements maker Herbalife (HLF) and municipal bond insurer MBIA Inc. (MBI). Ackman famously sparred with fellow activist billionaire Carl Icahn over his short $1 billion bet on Herbalife, which he claimed was a "pyramid scheme." Pershing Square in recent years has appeared to take a more backseat

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Bill Ackman's Pershing Square retires from activist short campaigns