You won’t find any tech companies in Bill Ackman’s portfolio.
The CEO of Pershing Square Capital says he doesn’t invest in technology companies because they are “too dynamic,” reports Business Insider. “We like businesses that will withstand the test of time,” Ackman says. Ackman tends to err on the side of long term, activist investing. His portfolio includes Valeant, Actavis, and Burger King.
Ackman says his most interesting investments are the ones no one is even paying attention to- Fannie Mae and Freddie Mac. Ackman acknowledged the risk in the trade at the Delivering Alpha conference Wednesday, but added that it could offer “the most upside.” He believes the government will move toward less regulation for Fannie and Freddie in the future. Fannie Mae is up about 11% so far this year, and Freddie Mac has grown about 4%.
Photo: Insider Monkey via Flicker.