Bill Ackman, a billionaire investor, has acquired a substantial portion of Alphabet Inc.'s GOOG GOOGL, demonstrating similarities to Warren Buffett's investment philosophy.
In addition to Buffett's renowned philosophy of seizing opportunities when others are fearful and investing in firms with enduring competitive advantages, Ackman's investment strategy resembles Buffett's.
CNBC delivered the CNBCdelivering Alpha summit on Monday and revealed Ackman's rationale for betting on Alphabet.
He capitalized on skepticism about Alphabet's artificial intelligence abilities, using this skepticism as an opportunity to buy shares at an attractive price.
Asked by Ackman on regional banks, 'I'd be surprised if Warren Isn't putting capital to work'.
Buffett's investing success is due in part to his ability to get permanent capital, which enables him to take a long-term view without being affected by short-term market fluctuations.
Pershing Square Capital Management, Ackman's venture, acquired approximately 8.1 million class C shares and 2.2 million class A shares in the first quarter of the year, amounting to $1.1 billion by the end of March.
The fund added 1.3 million Class C shares in the second quarter, and the value of the position rose to $1.4 billion as of June 30.
We've bought more in the $120s, it's our second-largest investment, Ackman said, demonstrating his continued faith in Alphabet's prospects.
The report notes that Alphabet now accounts for about 16% to 17% of the fund's capital, indicating Ackman's firm's belief in the firm's long-term potential.
Buffett has a record of more than 60 years, and has been at it for just 30 years.
The U.S. would be better served if it had younger alternative candidates like Donald Trump and Joe Biden, Ackman said.
Here Are The Eyebrow-Raising Moves Warren Buffett, Michael Burry And Bill Ackman Made recently.