Bill Ackman
speaker
1,217 appearances
6 recordings
6 series
first heard Feb 2024
last heard 3 Jun
Bill Ackman’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.
Appearances
And you're focused on, you know, kind of shorter term compensation.
You don't generally don't have a big economic stake in the business.
You're a founder.
This is your entire life.
It's your entire reputation.
It's not like you're going to go get another job.
You got to kind of make it work.
And also, when you're in the boardroom, you have the authority of either being a major voting voice or you've got a huge economic stake in the company.
When we join a board of a company, we're often the largest or the largest non-index fund type shareholder.
That kind of gives us a little bit of a disproportionate voice in the boardroom.
Imagine if you have that and you're CEO of the company, right?
So I think that does give you, and also if you've gotten to be a successful founder over time,
guarantee that you've made a number of very challenging calls over time that turned out to be right, otherwise you wouldn't be there.
And so you look at Mark Zuckerberg, right, when he bought, I don't know, Instagram, everyone's like shocked at the price paid, or WhatsApp, you know, they seemed like, you know, sort of outside the, you know, the company only had whatever, 19 employees or something when he paid a billion something.
But you make enough of those calls and you can make the other challenging calls.
Ben Graham is a really important voice for investors in that he said, look, you got to think about a business.
A stock certificate is an interest in a business as opposed to just this piece of paper.
That's probably one of his most important.
kind of aphorisms, but he was investing, for the most part, in liquidations.
In the days of Ben Graham, where there's no Edgar system, and in order to get a 10K filing, you had to go to the headquarter of the company.
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