Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time"

Billionaire investor Bill Ackman has become one of the modern-day must-watch investors. Ackman runs Pershing Square Capital Management, which manages a stock portfolio for Pershing Square Holdings. Pershing's equity holdings are valued at roughly $12 billion, and Ackman has aspirations to turn Pershing into the next Berkshire Hathaway. This makes all of Ackman's moves incredibly interesting to market watchers, who are always trying to see what some of the best and brightest investors are up to. In the current quarter, Ackman and his team at Pershing recently disclosed that they sold one of their railway stocks "with regret" in order to purchase a Magnificent Seven stock at a "uniquely attractive time."Although these recent stock moves by Pershing likely won't show up in filings until August, Ackman, along with Pershing's management team, discussed them on a recent quarterly earnings call. The first big move Pershing disclosed was the decision to sell Canadian Pacific Kansas City (NYSE: CP), a Canadian railroad holding company.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool