, Columnist
Hedge Funds Run Out of Investment Ideas
Fresh pitches were in short supply at the Sohn conference, and the stale factor extends well beyond there.
This article is for subscribers only.
Wall Street's biggest loudmouths are apparently out of things to say.
On Monday, Bill Ackman, speaking at the Sohn Investment Conference, talked up Howard Hughes, a real estate developer he invested in six and a half years ago. He hasn't bought, or sold, a share of since. Ackman, who is also the chairman, acknowledged that Hughes was a not a new investment but said this was the first time he was talking about it publicly. Nope. Ackman yakked up Hughes in a Forbes cover story focused on Ackman's investment in the company in mid-2015. CNBC personality Jim Cramer tweeted during Ackman's presentation that it wasn't even the first time Ackman had brought up the stock at an investment conference.