Bill Ackman: Pershing Square, hedge funds & learning from your mistakes

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Saïd Business School, University of Oxford

10 жыл бұрын

As part of the Distinguished Speaker Series, Saïd Business School welcomed Bill Ackman, American Hedge Fund Manager and CEO of Pershing Square.
29/10/2013
www.sbs.ox.ac.uk/school/news/b...

Пікірлер: 367

@StoryOfLIfe12 3 жыл бұрын

I really appriciate that the first moment he comes in, he makes himself comfortable, poors a drink and gives the first cup to the host.

@andrewcecce 3 жыл бұрын

It’s the little things 👌🏾

@gordongordon98 3 жыл бұрын

Ackman’s the cock of the walk, he puts his pants on just like you and me, and then he gets up and makes Billions

@sekainiheiwa3650 3 жыл бұрын

mind boggling what was here to appreciate. ? Or in your country first you serve the drink for yourself? 172 likes LOOL braindeads

@angelcampos94 3 жыл бұрын

@@sekainiheiwa3650 I'm sure you're a treat at parties.

@gordongordon98 3 жыл бұрын

@@sekainiheiwa3650 tell your story walking 🚶‍♂️

@kunalketkar 4 жыл бұрын

I absolutely love the fact that he recalls all his successes as well as his failures along with the values of the stocks that he was involved in. Also as mentioned by the interviewer he was completely candid about his failure with J C Penny and explained the root cause for the failure including name dropping the people he was involved with which not many investors would have been keen to talk about.

@AnnaLVajda 4 жыл бұрын

He's very candid and transparent that adds to his integrity.

@napalm8030 4 жыл бұрын

He was 100% right about Herbalife. He lost because schemes like this can win with the right backing. It's a shame. Great to see Bill's recent successes after a rough few years.

@Tkanyike 4 жыл бұрын

Nice. At a time (may 2020 midst covid 19) when the quality of entertainment is so redundant & mundane, there’s nothing like a little intellectual stimulation to get the day going. Very well appreciated.

@HighresROBERT 3 жыл бұрын

14 seconds in and he's poured a drink for the interviewer. Yes, I think I will listen to all of this.

@wh0m33 9 жыл бұрын

Extremely valuable insights from a very smart, very successful man.

@avi10111 3 жыл бұрын

what an incredible interview, thank you for sharing!

@plmpatel 10 жыл бұрын

One of the best interview for value investor.

@oldskoolrap69 3 жыл бұрын

This is one of the best videos I have seen lately and I've watched a lot of videos

@briantep458 9 жыл бұрын

I like Bill Ackman

@comicstube9148 3 жыл бұрын

For 10 minutes he made his jC Penny investment look like a holy grail

@gooldster 7 жыл бұрын

42:40 - Interesting point of view on creating a non-profit versus profit business

@rajachauhan004 7 жыл бұрын

Feeling sad for him after this Herbalife debacle! Great investor in not so great time..Really admire him.

@moh5938 4 жыл бұрын

Thomas Borisov I might be wrong but I feel that the lack of laws against MLMs contributed to herbalife surviving. Was really hoping herbalife would cease to exist though..

@alistartop1000 3 жыл бұрын

Yeah fuck herbalife

@Derekjcb 3 жыл бұрын

Look at him now.

@ghytd766 10 жыл бұрын

I'm a very big fan of Bill Ackman. The low sound quality is very irritating - had speakers on high and still couldn't hear.

@clintonleonard5187 3 жыл бұрын

Yeah the quality is a shame. Full volume is barely enough.

@saywhat4229 3 жыл бұрын

Clinton Leonard you need a new computer

@Greg_Chase 3 жыл бұрын

@@saywhat4229 I've got a $2000 laptop. No he does not need a new computer. Compare volume level of this Ackman video to this video => kzfaq.info/get/bejne/q8phlpiolZy9ZXk.html Trust me, there are other youtube videos FAR LOUDER than that one. Then consider: "Is it possible to record a video at different sound volume levels?" ANSWER IS 'YES' The failure of many youtube uploaders is they do not TEST their volume level. The successful way to record is: 1) close physical proximity microphone - say, a 'collar' microphone on everyone in the video, NOT the cheap microphone built into the camera that's recording the video because, beside being cheap, those rarely have an adjustable volume level 2) adjust the recording volume to be on the 'loud' side to make it possible to hear the video when it's uploaded 3) upload the video to youtube and test - because every recording system can have a different volume level Uploading an un-hearable video - WHY BOTHER, you are uploading failure and you come across as a lazy, inconsiderate schmoh . .

@chrismackay9268 3 жыл бұрын

Yeah I tried to watch this on my laptop last night and couldn't because of the sound, but through my wireless headphones today at work it actually sounds a lot better.

@xpert787 10 жыл бұрын

excellent video, thanks for posting

@DonMathius 5 жыл бұрын

muy interesante gran charla!

@Karry_KWrealty 3 жыл бұрын

Bill Ackman is someone i have always looked to for inspiration

@Fastbikkel 8 ай бұрын

But what kind of inspiration ? I personally do not support the financial system he often represents.

@alice_pk 4 ай бұрын

why not?@@Fastbikkel

@Fastbikkel 4 ай бұрын

@@alice_pk The financial system is not being treated very well when the scandals arise. Meaning when alarm bells go off, the protecting bodies hardly intervene or are extremely slow to act. Ackman is part of that culture. And i want to emphasize that i understand the issues with a decent treatment of the financial system, but i do not approve it. By decent i mean that the protecting bodies actually act on alarms when they are reported and to hold people responsible. The Madoff case is the best example, people have been informed about the issues for years and nothing was being done all the time. And when i was over, many weren't even punished, only Madoff and a few others were jailed. There are plenty of more scandals and i want that changed. I want a system where people that call out issues are being taken serious and it is being dealt with on time before everything comes crashing down, taking people's savings.

@dogestranding5047 8 жыл бұрын

Very inspiring.

@vsanthoshca 9 жыл бұрын

Please tune up the sound.

@zainahmed3112 8 жыл бұрын

This is great!

@AverageAngel 3 жыл бұрын

Great talk

@user-sx6xb5nq9l 4 ай бұрын

Very precious experienced to taught public how to make right judgement I also learned my mistake before you investment subject we all need prepared working study is first classes thanks for mentors advisor

@ChaseCon98 3 жыл бұрын

Bill's answer to the critics of activist investing due to its short term profit nature is very interesting. Slightly humorous how he is able to pitch his short-term position as long-term. Not sure if he is that much smarter than all of us or just very good at crafting a response that people want to hear. Probably a little bit of both!

@CasperLCat Жыл бұрын

Maybe the JC Penney lesson isn’t biz-school stuff like board alignment, etc., but the far more human factor that lower income people (among others) WANT constant sales and coupons. They DON’T know what a shirt “should” cost (who does ?), so they want a discount that reassures them that they aren’t getting ripped off (whether that’s really true or not). You can remake a company, but you can’t remake human nature, no matter how irrational it seems to very smart people like Ackman. Herbalife is similar- a bad biz that “succeeds” for irrational reasons. It’s almost impossible for someone of Ackman’s background- family wealth, Harvard BA/MBA, then right into a hedge fund- to understand how the other 99.99 % of the world actually thinks. That said, it’s admirable that Ackman is so open about his failures. THAT’S a highly rational habit that few want to practice.

@gailbateman1077 4 ай бұрын

JC Penney failed because they tried to push the homosexual agenda to their target customers, who rebelled. Same thing is happening to Target right now, and the fact that Ackman didn't discern this tells us there is a critical missing element in our nation's business leaders.

@johnred4084 4 жыл бұрын

I whould vote for Bill if he runs for president

@MAGNATEOfficial 4 жыл бұрын

same but he is too smart and uncharismatic to win, crowds are dumb and they will vote for people that move them emotionally, which is why Trump won, its also why Obama won. They both had a short emotionally charged slogan with a story to go along with it.

@Viper4ever05 9 жыл бұрын

He's definitely possess an alpha male personality but he seems like a genuine guy

@AnnaLVajda 4 жыл бұрын

@Maximillian Dirnfeld lots of rich wimps so that does not determine his worth. He's confident but not aggressive very relaxed approach compared to many guys.

@STLeoTS 3 жыл бұрын

@@AnnaLVajda usually rich wimps inherited their wealth, didn't earn it. imo :)

@Fastbikkel 8 ай бұрын

Interesting, my view of him is pretty much the opposite. I see no alpha male at all and i doubt his integrity and ethics. Especially when i look at cases where he was involved in the past.

@josephohanlon205 Жыл бұрын

He sounds 'level headed' and he makes his varied topics interesting.

@lhmissio 8 жыл бұрын

This is amazing.

@lelouch3 9 жыл бұрын

One of the best investors

@TrentDressel 4 жыл бұрын

great interview

@AliZain-dk5mk 3 жыл бұрын

Love Bill Ackman! I'm still interested to know what will happen to herbalife.

@agasd67654asdga 7 жыл бұрын

Very interesting investor....try to use some of his principles in developing my portfolio

@YTfcuk 10 жыл бұрын

great speaker.

@tinhb1992 10 жыл бұрын

excellent!

@MrSpazzTv 6 жыл бұрын

Such a suave, classy man

@AnnaLVajda 4 жыл бұрын

Lovely really. Smooth operator.

@gordongordon98 3 жыл бұрын

@@AnnaLVajda just like Big Daddy Kane

@michealkelli5788 3 жыл бұрын

Did anyone else catch “Jeff Bee-Zos” at 28:52

@TheInstantkarma2011 10 жыл бұрын

Great video

@wahyuramadhan195 Жыл бұрын

Thanks

@AnnaLVajda 4 жыл бұрын

Bill just seems to be living his life and being candid and honest. Really it's the public that puts him on a pedestal and judges him harshly for doing so just because of the business life he has pursued. Just listen to him as a man sharing his personal experience. People don't want to do that because he's wall st. and people have preconceived notions that he must be a greedy evil snob then even if he does take personal losses to improve the market. It's like finding the rare mythical creature of a decent ethical lawyer in modern society.

@CommandoMaster 3 жыл бұрын

Very informative.

@RUdigitized 3 жыл бұрын

This guy would make a great villain in an Adam Sandler movie.

@fabiokaya202 3 жыл бұрын

lol

@Liverpoolaussie21 4 жыл бұрын

amazing how he has some of the same principles as Ray Dalio

@user-ql3ws5uz1d 4 жыл бұрын

Not really... matters of a fact, not remotely related, if you are talking about investment strategy strictly

@Liverpoolaussie21 4 жыл бұрын

@@user-ql3ws5uz1d I wasn't referring to their methods of active investment. Was referring to how they operate as individuals

@grantlyons4877 4 жыл бұрын

@@Liverpoolaussie21 ignore these ones ^ It is a striking coincidence. Sometimes all it takes is paying attention.

@valueinvestor6715 3 жыл бұрын

Succes leaves clues

@claudiaaquino7238 4 жыл бұрын

Great human being

@foxfiresidechats5227 4 жыл бұрын

Lol= if you look long enough, Bill looks (and sounds) just like Jeff Bezos, but with a full head of hair.

@johnred4084 4 жыл бұрын

Lol, but he doesn’t have the irritating Bezos laugh

@AnnaLVajda 4 жыл бұрын

@john10000ish 3 жыл бұрын

Have you seen them together? Ever ?

@shaumikhaque1443 3 жыл бұрын

Jeff would be in a similar place to where Bill is now, if he decided not to pursue his "regret minimisation framework".

@personperson717 4 жыл бұрын

Who’s here after his covid-19 hedge?

@Glickan 5 жыл бұрын

The man is a genius!!!

@lorenzmuller3542 3 жыл бұрын

How so?

@Glickan 3 жыл бұрын

@@lorenzmuller3542 Look at his track record.

@aleksaorevic536 4 жыл бұрын

"How you deal with adversity that determines your ultimate success, as opposed to how you deal with success determines your ultimate success"

@gudduentertains 4 жыл бұрын

I looked at the thumbnail and wondered why this tv actor is mentioned as investor ....I thought may be investing was his thing and acting a hobby....though I couldn't recall on which show I saw him then I remembered...he was in a Netflix docu-series on corruption. Dirty Money. Yeah, he is not an actor but he is damn good looking!

@AnnaLVajda 4 жыл бұрын

Oh he looks like a star I agree he looks like he should model luxury goods and I suppose in a way he does. If I did not know a thing about him and just saw a picture I would probably still swoon then you find out he's smart and relaxed too quite the dreamboat.

@douglas2lee929 Жыл бұрын

Audio is too low to hear!

@bigg1597 5 ай бұрын

Use other people's money aka use taxpayers' money. The halal guy with the pushcart is more important to the world.

@siddharthsinghchandel9313 3 жыл бұрын

Absolute genius ❤️

@oshanerichardson 10 жыл бұрын

great speaker, horrible sound.

@vivekrainaat 10 жыл бұрын

Bill Ackman ROCKS!

@kwjan1615 4 жыл бұрын

Bill Ackman is a great investor. He does seem alpha. We need investment, capitals and more opportunities for our great city Vancouver, epsically financing, mortage and investment. Our housing price is always quite pricey, but Canada, BC, Vancouver is a great city to live in. It is worth to strive for to make money, serve the society, and buy a property for yourself. I have wonderful parents. I dream of better lives for myself and my family. Let's not complaints, but work hard and seek for opportunities.

@jacob.brandw 3 жыл бұрын

I love how the introduction explains how the company is known for taking long positions when Bill is widely known for the Herbalife short😂

@heyJustephan 3 жыл бұрын

Herbalife is a scam. Sadly they survived.

@lorrainemansfield8830 3 жыл бұрын

I'v watched him in a video for beginners using a lemonade stand as an example in which he goes on to say you have to have a stomach for down turns on the stock market, however he sounded panicked on Tucker Carlson show about Hilton stock going to zero.

@Je.rone_ 4 жыл бұрын

*The way to "engineer failure" is to do very difficult things worth doing,*

@JamesQAu 10 жыл бұрын

I disagree "Theinstantkarma2011", this is one of the greatest interviews of Bill Ackman. Watch the interview with Charlie Rose and you'll be horrified. Thanks a lot for this interview OxfordSBS.

@MarkMusu92 4 жыл бұрын

Surprised he talked about Cohen... has been researching about the guy since I started watching Billions.

@manishyadav-gr3dj 3 жыл бұрын

2020 bil ackman made the greatest trade ever .. profit 2.3 bn

@SillyMikey500 10 жыл бұрын

Thank said college

@Chris-ub1ed 4 жыл бұрын

Man wish he could narrate my GPS. Incredible speaker.

@keimo2007 10 жыл бұрын

thanks for uploading this!

@mattm5879 3 жыл бұрын

interviews billionaire "gotta bring my planet fitness pen"

@taylenday 3 жыл бұрын

And then the Big Short A.K.A. the Ackman Manouvre happened in 2020

@gordongordon98 3 жыл бұрын

And 2.0 is happening right now, son 🦦

@nore3 3 жыл бұрын

2:55 Random question but I noticed both speakers pronounced "finance" as "fuh-NANCE" rather than "FAI-nance", I have never heard anyone say it like that before.. How I totally missed something and that's common? Have never heard it in the UK either.

@AverageAngel 4 жыл бұрын

nice video

@mmphotos4587 4 жыл бұрын

Repost an increase the volume can I hear anyting

@moh5938 4 жыл бұрын

Hopefully the college is able to afford a better mic with that donation money

@MrMehrd 8 ай бұрын

Every time i see bill ackman,i wonder how much he is look like our neighbor 😂

@Cg-hss06 3 жыл бұрын

please recommend investing book and how do you hedge?

@sov19871987 3 жыл бұрын

Hedge? Find a husband!

@scottab140 6 жыл бұрын

JC Penny- Short Seller Thesis for Company Life Cycle.

@Kharmatos13 3 жыл бұрын

that dude gave up 100 million in apple shares post financial crisis for JCPenny shares? Jesus that's the biggest mistake ever. That ceo would be one of the richest people in the world right now. that'd be like 10 mill shares in 2010/2011, then 70 mill shares with the 7-1 split, then 210 million shares with the 2020 4-1 split. current price that's 28 billion dollars in stock and now JCP is bankrupt. yikes.

@Fastbikkel 8 ай бұрын

He has been labelled as a type of "makes plenty of mistakes, but never doubts". Apparently, this is what investors want.

@themaniac94 9 жыл бұрын

its funny how the whole idea behind the redesigning of a blank Apple store was catered towards customer experience and still is, what i dont understand is how Ron Johnson forgot to take the human behaviour/psychological pattern into consideration that, once free money stops coming, would someone be inclined to purchase? Just like Dogs, you want a bark you need to incentivize. blows my mind.

@dbsk06 4 жыл бұрын

51:00

@bijunair2573 3 жыл бұрын

28:27 As a CEO your focus is shareholder value, in government CEO President referring the website incident important is ensure best coverage for the worst off citizen. Definitely better if the website had not failed. A second important point is when you make a generational change in philosophy, as is the case with changes to education or healthcare -hiccups will be there.

@777jones Жыл бұрын

JC Penney should have simplified its discounts, but not abandoned them!

@hansitburrun 4 жыл бұрын

He refers to a web site for data which starts by « Facts .... » but could not pick up the full name. Can somebody help me?

@jurgenklopp1506 4 жыл бұрын

@@joebeeforth7702 not all heroes wear capes

@victorcharlie 8 жыл бұрын

When are you guys going to get Bill back for another interview?!

@dogestranding5047 8 жыл бұрын

+hov say I really hope they do it soon to hear what his opinions are on his current investments + expanding a bit more on how his career was started.

@Bardsedia 8 жыл бұрын

+hov say Met him last week at the Pershing AGM - Despite the current goings-on he is still so positive and happy to share wisdom!

@victorcharlie 8 жыл бұрын

+Josh Bardsley Glad to hear!

@dogestranding5047 8 жыл бұрын

Josh Bardsley That's really great. What's the Pershing AGM?

@Bardsedia 8 жыл бұрын

Pershing Square (Bill's investment company) annual general meeting. Talked through the portfolio etc.

@namphan5130 6 жыл бұрын

Anyone with technical expertise can boost up the loudness of this video? I have a hearing trouble and I pretty much can't hear him say anything

@omarmahfouz5599 3 жыл бұрын

Even people without hearing troubles cant hear him

@MeiinUK Жыл бұрын

Interesting interview. Never knew that was how the US is run...

@Qaranwadani1993 7 ай бұрын

What do you mean by this?

@joshcortez2286 11 ай бұрын

Care to explain how in the world the dude was able to buy 7 year options?

@Johnsmith-do2js 5 ай бұрын

There is some Dan Draper in bill ackman

@orkfund 4 жыл бұрын

excellent guy. herbal still trading.

@officialbandlucci6792 3 жыл бұрын

Jonathan Tang not in USA

@charlottejones1721 3 жыл бұрын

An investor can potentially lose all or more than the initial investment. The further you can stretch your investment goals, the easier it is to look past short-term volatility

@aureliocantos8466 3 жыл бұрын

When investing, a good rule of thumb is not to put all of your eggs in one basket, Instead diversify.

@elenaarguello1503 3 жыл бұрын

The goal of your investment portfolio should be building a long-term plan that aligns with your financial goals.

@kelvinjohnson3906 3 жыл бұрын

2020 wasn't really a good trading year for me, hopefully 2021 will be better.

@charlottejones1721 3 жыл бұрын

@@aureliocantos8466 Diversification is critical for building a portfolio that is resilient to market shocks.

@charlottejones1721 3 жыл бұрын

@@elenaarguello1503 as i go deep into trading i realize that investing is a long-term strategy for wealth building. But it will not make you rich overnight.

@tabber87 9 жыл бұрын

35:20 Billionaire PUA masterclass

@nickm4974 4 жыл бұрын

tabber87 lmaooo

@Skerdy 10 жыл бұрын

I wonder what is his take about Elon Musk. Musk has enough money to do anything he dreams (and he dreams really *big*), but Ackerman has the contacts and the business acumen to make it *really* successful. I think the combination would be really awesome... if these two alphas can work together, that is...

@dogestranding5047 8 жыл бұрын

+Skerdy I think that Ackman has way more than enough money to do anything he wants and more. He's still growing too.

@icebergvishnu 4 жыл бұрын

Ackman's a mercenary, Musk's a missionary

@Cg-hss06 3 жыл бұрын

have you seen he made 2.7B in30 days

@acommon1 4 жыл бұрын

Good discussion. But, Dah!!! Moments. Just ask your questions please. Just drives me "batty" when people make the following statements before their question (s): -- "I have a question" -- "My question will be quick"

@alpkalinin Жыл бұрын

the sound is very poor

@kimleung2901 5 жыл бұрын

Lol he’s using a planet fitness pen

@nickm4974 4 жыл бұрын

Kim Leung branding

@TYagoTradeZ 4 жыл бұрын

volume : (

@vistapri9290 5 жыл бұрын

Bill reminds me of Christian Grey...☺

@AnnaLVajda 4 жыл бұрын

Not creepy like him gross.

@TheSolidsnake2001 9 жыл бұрын

You can learn a lot (or something) by study what went wrong at Ron Johnson in JCP.

@Scottinuk 8 жыл бұрын

The sound is too loud!!

@enevision6101 3 жыл бұрын

i like people who are honest humble and speak from the heart. not the cnbc sensational vicious bulls talking heads

@ruhalshaikh7341 4 жыл бұрын

59:42 is he confused about what soros does

@andrewtorgerson6143 4 жыл бұрын

bro donald trump watched this and was like bro thats me and im famous ah shit im going to be prez

@gordongordon98 3 жыл бұрын

Donald Trump is in the bathroom wrangling a growler 🚽

@mrberry7950 9 жыл бұрын

HLF Puts are tempting.... Then again Calls of Hong Kong Dollar were too. : /

@cognition26 4 жыл бұрын

Mic is too sensitive.

@roybhutt8427 9 жыл бұрын

how did the girl who asked the last question got into oxford

@nicolasfat 9 жыл бұрын

LMFAOOO!

@roybhutt8427 9 жыл бұрын

Stanford.... Bitches!

@dogestranding5047 8 жыл бұрын

+Roy Bhutt Yeah, Stanford with the way you worded the comment? lmao. It's also a bad ROI because you could take pre-requisites at a community college and then transfer out.