Breaking: Bill Ackman's first hedge fund failed at 36. Today he just filed to take Pershing Square public on the NYSE under $PS
Timeline:• Age 22: Graduates Harvard magna cum laude• Age 26: Gets MBA from Harvard Business School, co-founds Gotham Partners with classmate• Age 36: Gotham collapses under litigation• Age 37: Starts Pershing Square with $54M• Age 42: Collects on a multi-year MBIA short as the 2008 crash hits• Age 44: Turns $60M into $1.6B rescuing General Growth Properties from bankruptcy• Age 46: Goes to war with Carl Icahn on live TV over Herbalife• Age 51: Loses $1B on the 5-year Herbalife short, exits• Age 53: Turns $27M into $2.6B in 3 weeks betting on COVID• Age 58: Tries to raise $25B for a new fund, falls apart• Age 59: Files IPO on NYSE, $2.8B committed before it even launchesMost funds don't survive one $1B loss. Ackman survived and came back with $10B moreHere's what his holdings are today @BillAckman
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