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.

Appearances

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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

Or is someone going to come up with a business that disrupts it and the company's going to disappear?

And so, you know, stocks are riskier than bonds because there isn't the same

degree of certainty about their future.

But if you narrow down the universe of companies you invest in to these really predictable businesses where their market position is, we believe, so dominant, you can earn well in excess of bond-like returns without taking a ton of risk.

I would say in spots.

I think it's hard to generalize about the market.

People look at the stock market and say, okay, the PE today might be 21 or something like this.

And the average PE in the market might be 17.

So they can say, look, on the margin, it looks overvalued.

But the value of a market is a function of what the earnings are going to be in the future.

And earnings have continued to significantly exceed expectations.

And earnings are growing at a faster rate than historically.

And a big percentage of the market is represented by the biggest companies.

And those companies, whether it's the NVIDIAs, the Microsofts, the Googles, the Alphabets of the world, are much higher quality businesses growing much more quickly than

if you look back 20 years ago, what the top six or seven companies were back then.

So I think it's a higher quality collection of companies that deserves to trade at a higher multiple.

And to my point, if Microsoft and Amazon and Meta are cheap stocks, which we believe they are, you could argue the market's not expensive at all.

I would find that a handful of businesses...

that don't use a lot of leverage.

So you want companies that don't use a lot of financial leverage.

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