Bill Ackman

speaker

500 appearances 1 recordings 1 series first heard Jul 2026 last heard 20 Jul

Bill Ackman’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Money Rehab with Nicole Lapin · Bill Ackman on His Investing Playbook, His Bullish and Bearish Bets, and What Could Trigger the Next 2008 · 20 Jul 2026 podcast

Another risk is you have a lot of the very, as I talked about, levered players in the market, which means that if there's some kind of event that comes from left field that shocks people and they panic and they sell, you can see a cascading, you know, as people, other sellers have to sell because they borrow money.

So I think the biggest risk to markets is that there are a lot of very levered players in the market and we're at risk to some kind of extrinsic shock and that could put stocks to go down a lot.

Now,

If you have an unlevered portfolio with very high quality businesses and you don't need the money tomorrow, that's fine.

A good opportunity for you to buy more.

If you've got a margin debt, you're going to get wiped out or you're going to have to sell at the bottom, which is what you don't want to do.

So the key, going back to my hero, you know, Mr. Buffett, his key was just longevity, right?

He's 95 and he set up Berkshire Hathaway in a way that he would never get an article or the equivalent.

So it could compound, not every year.

Like you mentioned, we've had a couple of really amazing years.

Probably a third of the time we've been up north of 30, 40% for the year, but we've had a handful of down years.

This year we're down slightly, but that's okay.

You don't need to make money every year.

You just need to persist and own businesses that can compound at high rates.

And you wake up five years, 10 years from now, and you'll have a lot of money.

The other key for building wealth over time is spending less.

And it's hard to do that.

You know, foregoing the short-term experience or pleasure, you know, planning for the long-term, you know, that requires some restraint.

I think the issue for the country, which the president is taking steps to fix, is call it 60% of the workforce, their employer provides some kind of tax-advantaged way to save money, typically a 401k plan.

And the ideal one is where you have to opt out.

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