Guess Ackman's First Investment In The Financial Sector In Five Years?
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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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