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Ackman Like Buffett Buoyed by Fracking in Bakken: Freight

Bill Ackman, the largest investor in Canadian Pacific Railway Ltd., is following Warren Buffett in profiting from growing oil and gas production in North America’s Bakken shale.

Ackman’s Pershing Square Capital Management LP, which bought most of its shares in late 2011 as the stock rebounded from a two-year low, stands to benefit as CP expands operations in the Bakken.