Guess Ackman's First Investment In The Financial Sector In Five Years?
Pershing Square's Bill Ackman told the Value Investing Congress today that his first investment in five years in the financial services arena was AIG (NYSE: AIG) and his second, Wachovia (NYSE: WB).
Bill Ackman runs hedge fund Pershing Square Capital, which he started in 2003. Ackman proved his acumen as a short seller in 2007/2008 as short positions he held in MBIA (NYSE: MBI) and Ambac (NYSE: ABK) proved to be big winners due to the credit crunch.
American International Group, Inc. (AIG) is a holding company which, through its subsidiaries, is engaged in a range of insurance and insurance-related activities in the United States and abroad.
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