Bill Ackman: Betting big on tech cash cows after Pershing Square underperformance

AJ Bell's Head of Markets, Dan Coatsworth, sits down with Bill Ackman, CEO of Pershing Square, for a wide‑ranging conversation on investing, big bets, and lessons learned.

Ackman shares his investment philosophy, reflects on the Hertz turnaround, and explains why he's doubling down on mega‑cap tech giants like Amazon, Meta and Microsoft. He also discusses his ambitious plan to build a Berkshire Hathaway‑style powerhouse with Howard Hughes, plus the frustrations of missing out on the Universal Music takeover bid.

Despite underperforming a simple US tracker fund over one, three and five years, Ackman makes the case for why investors should still back him.
Whether you're new to investing or a seasoned market watcher, this interview offers valuable insights into how one of the world's best‑known investors thinks.

00:00 - Introduction 
00:42 - Ackman's investing style explained 
02:02 - The Hertz turnaround: what went right 
05:48 - Why Ackman is buying Amazon, Meta & Microsoft 
09:34 - Building a "new Berkshire": the Howard Hughes plan 
12:15 - Lessons from the Universal Music bid failure 
14:12 - Performance vs tracker funds: Ackman responds