Bill Ackman is the founder and CEO of Pershing Square Capital Management, one of the most closely watched investment firms in the world.
In this conversation, he breaks down how he tells the difference between real innovation from hype, what he looks for before making a billion-dollar investment, and why he sold Netflix—and later bought it back. He also shares the mistakes that reshaped his investment process and his plan to build a modern-day Berkshire Hathaway.
Bill also opens up about something far more personal: his daughter Lucy’s sudden brain hemorrhage, the hours before surgery, and her ongoing recovery. He describes running his business from a hospital room and the institute he and his wife are building to help other families facing similar challenges.
Enjoy!
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Chapters:
(00:00) Intro
(00:53) The Night His Daughter Nearly Died
(08:49) His Plan to Rethink Brain Recovery
(16:15) Could Her Ring Have Raised the Alarm?
(17:07) How He Holds It Together
(23:17) How Bubbles Pull You In
(23:49) Is Venture in a Bubble?
(25:23) When Easy Money Runs Out
(28:05) He Hated the Idea. He Invested.
(30:05) Who Actually Profits From AI?
(35:53) The Rules He Carved in Stone
(39:15) The Trade He Won't Make Again
(42:02) Why He Consults "Dr. Claude"
(46:14) Waiting for a Cheaper Market?
(48:20) Netflix: Why He Changed His Mind
(51:36) Howard Hughes and The Assets Nobody Wanted
(53:22) What If You Owned a City?
(01:00:02) Berkshire's Most Overlooked Advantage
(01:04:36) From Watch Buyer to Company Owner
(01:09:42) How He Judges CEOs in an Hour
(01:14:19) What's Left to Achieve at 60?
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Note: ‍Shane and guests may hold positions in assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. Nothing in this conversation should be considered investment advice, financial guidance, or a recommendation to buy or sell any security. Always do your own due diligence or consult with a qualified financial advisor before making investment decisions. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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