Ackman Holding Bullish Stance on US Consumers
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William Ackman headlined the Value Investing Congress on Tuesday, and the founder and fund manger of Pershing Square Capital Management said that he is still bullish on the U.S., betting that the American consumer will make a comeback.
Ackman added that he sees the stock market as relatively inexpensive, as he went against the sentiment of several peers at the Congress that are taking more a bearish stance on the U.S.
"I assume we'll do fine no matter what they do in Washington D.C," Ackman said.
Ackman recently announced a 16.5 percent stake in J.C. Penney Company Inc. (NYSE: JCP) and an 11 percent stake in Fortune Brands Inc. (NYSE: FO).
He did say that currently he sees little short potential, as Pershing is currently 7-8 percent net short versus around 22 percent in 2007.
Ackman added that he sees the stock market as relatively inexpensive, as he went against the sentiment of several peers at the Congress that are taking more a bearish stance on the U.S.
"I assume we'll do fine no matter what they do in Washington D.C," Ackman said.
Ackman recently announced a 16.5 percent stake in J.C. Penney Company Inc. (NYSE: JCP) and an 11 percent stake in Fortune Brands Inc. (NYSE: FO).
He did say that currently he sees little short potential, as Pershing is currently 7-8 percent net short versus around 22 percent in 2007.
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