Pershing Square's Ackman Says Howard Hughes ‘Attractive’ Buy Now
- Activist discussing one of firm’s oldest investments at Sohn
- Billionaire Ackman has one still undisclosed long investment
Bill Ackman
Photographer: Kholood Eid/BloombergThis article is for subscribers only.
Billionaire Bill Ackman said real estate group Howard Hughes Corp. -- one of the longest-held investments of his activist hedge fund Pershing Square Capital Management -- is an attractive buy right now.
“I think this is one of the most attractive times in the history of the company to invest,” Ackman said Monday at the Sohn Investment Conference in New York. “The stock trades at one of the widest discrepancies between the underlying net asset value, and we have a much better understanding of the business, and the business has had a huge head start over the last six years.”