Sunday, 2 August 2015
Last updated 1 day ago
Mar 10 2014 | 2:50pm ET
It took Pershing Square Capital Management nearly all of last year to hit double-digit returns. This year, the firm has done it in two.
The New York-based firm is up more than 11% this year after rising 7.3% in February, The New York Times reports. Pershing Square was boosted by its roughly 10% stake in the common shares of both Fannie Mae and Freddie Mac.
If Pershing Square founder William Ackman is right about the two government-backed mortgage giants, they'll continue to fuel his returns: Last month, he said that if the hedge funds suing the U.S. government over their bailout of the companies succeeds, their share prices could soar by as 10- or 15-fold.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…