The loss is almost entirely accounting: a $105.4 million GAAP hit on the sale of Municipal Utility District receivables sank the quarter even as revenue beat. Management is steering the real estate business toward an asset-light model and funneling proceeds into insurance unit Vantage, making Friday's call the one to hear.
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What You Actually Own When You Buy Pershing Square Stock
Bill Ackman's famous stock picks sit inside funds that Pershing Square shareholders don't actually own. What they hold instead is a fee-collecting machine with sticky capital, and one upcoming launch could decide…
“Insolvency and Wage Garnishment for Life”: Bill Ackman’s Brutal Take on California’s Tax Proposal
Bill Ackman told CNBC that a billionaire tax turns failed entrepreneurs into lifelong government debtors, but the proposal he described and the one actually on California's ballot may not be the same…
Billionaire Bill Ackman’s Pershing Square Exits Universal Music After Failed Takeover Bids, Stock Slumps 7%
Bill Ackman’s Pershing Square has closed the book on one of its most ambitious activist campaigns. According to CNBC reporting based on The Wall Street Journal, the firm sold its entire stake…
Bill Ackman Wants to Build a “Modern-day” Berkshire Hathaway—Here’s How
It’s not hard to imagine why so many people want to channel Warren Buffett and his legendary firm Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction), which has trounced markets since its inception.…
Billionaire Owned Hedge Fund Dumps Uber And Buying These Stocks Instead
Forbes estimates Egerton Capital CIO John Armitage’s net worth is $1.5 billion. Armitage co-founded the UK-based hedge fund in 1994. According to LCH Investments, the firm has generated $23.9 billion in net…
Billionaire Bill Ackman Wants to Become Warren Buffett
24/7 Wall St. : Emulating Warren Buffett’s approach, hedge fund manager Bill Ackman intends to buy the whole real estate giant Howard Hughes Corp. (NYSE: HHH), in which he currently owns a…
Bill Ackman Has 53% of His Portfolio in These 3 Stocks
Hedge fund operator Bill Ackman likes to make big bets. His Pershing Square Capital Management fund has $10.4 billion in assets under management and it is concentrated in just nine positions. These…
See Which Inside Buyers Are Scooping Up More Shares Now
Some of the biggest insider buying since the Thanksgiving holiday has come from repeat buyers, including Bill Ackman, who continues to build his stake in a real estate firm.
Insiders Are Loading Up on These Biotech and Energy Stocks
Notable insider buying in the past week included biotech and energy companies, including some that have just gone public. Also, renowned hedge fund manager Bill Ackman continues building a stake in a…
Huge Insider Buys at Energy Giants, Bill Ackman Boosts Real Estate Stake Again
Exxon Mobil and another energy giant saw huge insider buys this week, while Bill Ackman continued to build his stake in Howard Hughes.