Pershing Square 2018 Annual Investor Letter

This year started excellent for billionaire Bill Ackman and his activist hedge fund Pershing Square, which gained 31.9% since the beginning of the year through March 19th, strongly beating the S&5 500 which delivered 13.5% over the same period. Although this is a promising start, we should remember that the last year also looked good all through November 13th for which period the fund reported...