Wednesday, 20 August 2014
Last updated 1 hour ago
Jan 10 2008 | 4:50pm ET
After booking an impressive return last year, activist investor William Ackman is upping his stake in a major bookseller.
Ackman’s hedge fund, Pershing Square Capital Management, returned 22% last year, Bloomberg News reports. The $4 billion fund hit it big on bond isurers MBIA Inc. and Ambac Financial Group, as well as on companies less stung by the subprime and credit crises like McDonalds Corp. and Ceridian Corp.
Not everything came up roses for Ackman in 2007: His investment in retail giant Target Corp. lost almost half its value last year.
Pershing Square has also boosted its stake in Borders Group over the past several weeks. The hedge fund, which has said it is betting on a turnaround at the second-largest bookseller in the U.S. engineered by incoming CEO George Jones, now owns 22% of the company. In November, its stake stood at 17%.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note