Billionaire hedge-fund manager Bill Ackman has confirmed that he is no longer invested in Berkshire Hathaway.
Ackman revealed in a conference call on Wednesday that his fund, Pershing Square, had sold its $1 billion stake in Warren Buffets company. He explained that they had been reducing their position in the last few weeks, and had also sold smaller stakes in Blackstone and Parks Hotels & resorts.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Their plan, he said, is to free up capital so that they have money to invest in any opportunities that were to emerge.
The company said that “the current environment means there may be more than typical opportunities for us to see very high-returning investments”.
While hearing the reasoning behind the move to sell its stake in Berkshire makes it understandable, it is still somewhat surprising given that it was only last year that Pershing had invested in Berkshire, and they had boosted their stake in Q1 of this year.
So, In my opinion, I believe it is merely a strategic move on Pershing’s part…
Possibly gearing up for some bigger investments later this year.
