Add another bull to the pen! On Tuesday, real-estate maven and shareholder activist Bill Ackman told Reuters that the American economy stands to improve, now that corporations have improved their balance sheets.
One thing that stands in the way of solid growth is a lack of confidence, said Ackman, whose Pershing Square Capital Management oversees $7.7 billion in assets. Speaking at the Value Investing Congress, Ackman said that the current economic environment is a good one for acquisitions. Fellow hedge-fund type Lee Ainslie (head of Maverick Capital and “ardent admirer of Thomas Jefferson“) agreed that the economy is set to rebound.
Ackman and Ainslie join billionaire investor and the world’s third-richest man, Warren Buffett, in their bullish outlook. Although Buffett recently said that the recovery going forward would be painful, he believes the worst is behind us.
mtaylor@observer.com
Twitter: @mbrookstaylor
