Bill Ackman and Carl Icahn - sat on the same stage 18 months after the most legendary confrontation in Wall Street history
"I respect Carl's story - he got a rougher start than me, and he's done incredibly well over a very long period of time - you have to respect that record"
"100 years ago Carnegie and JP Morgan owned 20% of US Steel - if the CEO wasn't doing his job, the owner stepped in and replaced him
today you have CEOs you can't get rid of, and that's why the middle class is suffering"
bookmark and watch it - two Wall Street legends, one stage ↓
Bill Ackman told the story of Donald Bren - the 27th richest man in America that almost nobody has heard of
he bought a fifth of Orange County for $337 million, one deal, 40 years - Forbes says he's worth $15 billion, Ackman says "Forbes is wrong, my guess is closer to $30 billion"
"one way to find a great business is look in the Forbes 400 and see where people made their money"
"we bought 25% of General Growth in 2008 for $60 million - it filed for bankruptcy - investors made a 100-fold return"
Bren's edge was one strategy for 40 years - now strategies generate faster with AI - check the post below ↓