Canadian Pacific Railway Ltd is a win for Bill Ackman, no matter how you keep track

When activist investor Bill Ackman first approached Canadian Pacific Railway Ltd.’s management about making major changes to the underperforming railway, including hiring a chief executive who had just retired from its closest rival, they were understandably defensive. In press release on Feb. 6, 2012, responding to a town hall meeting Ackman’s hedge fund had just held…

Ackman Q1 Letter
Ackman Q1 Letter