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MBIA Inc. Message Board

  • alzhus101 alzhus101 Jan 5, 2009 5:25 PM Flag

    Ackman’s Fund Fell 68% in 2008

    Bill Ackman’s Pershing Square hedge fund fell -68% last year, following a decline of -43% in 2007.

    For comparison purposes, Marty Whitman's Third Avenue mutual fund declined -45.6% in 2008, after gaining +5.76% in 2007.

    And this guy Ackman tried to lecture Marty on how to pick stocks??? Duh....

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    • Facts. Rigth from the article you lined to your biased remarks.

      Jan. 5 (Bloomberg) -- William Ackman’s hedge fund that invests in Target Corp. fell 68 percent last year, more than double the loss by the second-largest U.S. discount chain.

      Pershing Square IV declined 7.7 percent in December alone, according to a letter to investors from Pershing Square Capital Management LP. Ackman and Pershing spent about $2 billion in 2007 for a stake in Minneapolis-based Target. Ackman has since pressed Target to buy back shares, sell its credit-card unit and extract more value from its real estate.

      It was his fund that invests primarily in retail. His MBIA shorting fund is doing very well thank you.

    • That was fund IV, duh. This was one of his funds that was heavily invested in Target. You losers at MBIA just can't take the fact that your frim is dead. Get over it.

      Ackman is a tool. But don't lie or distort the facts. Why don't you fire Jay Brown and hire Marty Whitman to be your new CEO. Brillant move MBIA.

      Please go away MBIA. I'm so tired of your drama. It's time to turn off the lights and lock the door. It will take time to sublet the building, but all you have is time right now. You have no business and no future.

    • For Target! Don't leave out those key words. He got crushed on Target, Sears and some other stuff, but his short selling of MBIA and other financials was not down 40%.

      You MBIA loves get off on half truths and have no problem telling little white lies. Get the facts correct. You should compare Marty Whitmans Third Ave. Fund to Ackmans entire portfolio not the Tagert specific fund.

      I don't care for Ackman, but at least be fair to him. He knew MBIA was a joke in 2002 and he was right. Get over it. If his Target investment goes bad it does not bring MBIA back to life. MBIA is dead.

    • Music to my ears.
      Feel sorry for his short scumbags at this board. They know who they are ;)

    • Fools get things half right:

      It was Pershing Square IV, a hedge fund with specific leveraged investment in Target. Obviously it was a disaster and on this pick the guy got it wrong.

      But your foolish posting appeared to suggest that his main funds delivered these poor results. Pretty stupid omission.

      With respect to MBIA's failures, Ackman did do a good job in alerting the world, including Marty Whitman. Of course he had a conflict of interest.....but let's call a spade a spade: Ackman was right on MBIA's blowup.

      Focus on MBIA's business, not trying to make Ackman look bad. Ackman could lose all his investors money, and that's not going to help MBIA's failed scheme come back to life.


      • 2 Replies to johnny_bdog
      • "Ackman did do a good job in alerting the world"...or did he go on a crusade and show his powerpoint presentation to anyone that would listen?

        Also, one can argue that the third downturn in November was a direct result of Moody's downgrade (late, and following several letters sent by Ackman, who had a vested interest in killing these stocks with his short positions).

        Also, running around and calling a business insolvent is a bit of a stretch and might be sanctionable by the SEC. To say that they're overvalued is one thing, but to call them insolvent is like calling fire in a crowded theater, causing panic and adverse systemic reactions.

        And talk about adding insult to injury, with the addition to Target, Ackman made an investment in General Growth Properties. I wonder if GGP's bonds are insured.


      • What you are referring as "blow out" I call for a temporary set back.


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