Bill Ackman says owning businesses that have power

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Bill Ackman says owning businesses that have power

Bill Ackman, an hedge fund manager and CEO of Pershing Square Capital Management, said that the key to success in a highly-interest-rate environment is owning businesses that have pricing power.

It's hard to manage a business where inflation is volatile at 8%, he said, but many, many businesses can do very well in a world of 3% inflation.

The biggest share of Bill Ackman's portfolio - 18.86% - is Chipotle Mexican Grill Inc., valued at $2.04B. Pershing Square Capital owns 953,610 shares.

In the first quarter of 2023, Ackman bought around 8.1M shares of Alphabet Inc. Class C shares and 2.2M shares of its Class A shares, and secured a stake worth nearly $1.1B by the end of March.

Despite this, he expects Google to become a dominant player in AI for the very, very long term.