Ackman bets on idol Warren Buffett’s Berkshire Hathaway

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Billionaire U.S. investor William Ackman has long described how Warren Buffett, often called the greatest stock picker ever, has influenced his career. Now he’s paying the Oracle of Omaha the ultimate homage with a new investment in Buffett’s Berkshire Hathaway .

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BOSTON (Reuters) – Billionaire U.S. investor William Ackman has long described how Warren Buffett, often called the greatest stock picker ever, has influenced his career. Now he’s paying the Oracle of Omaha the ultimate homage with a new investment in Buffett’s Berkshire Hathaway (BRKa.N

FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan

Recent changes in the portfolio also suggest that Ackman is not likely to hold onto an investment where he sees potential problems or where there is not much money to be made ahead.

He bought United Technologies in the first quarter of 2018 and exited after the company announced a planned merger with Raytheon (RTN.N) that he told management he did not like.

He owned ADP from the middle of 2017 and worked behind the scenes with management after having lost a proxy contest two years ago. He earned $1.25 billion on the ADP investment but told investors last week that he cashed out because gains might not be as steep in the months ahead.

Reporting by Svea Herbst-Bayliss; editing by Grant McCool and Rosalba O’Brien


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Billionaire U.S. investor William Ackman has long described how Warren Buffett, often called the greatest stock picker ever, has influenced his career. Now he’s paying the Oracle of Omaha the ultimate homage with a new investment in Buffett’s Berkshire Hathaway .

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