Bill Ackman Gets Smart

Bill Ackman Gets Smart

Bill Ackman’s Pershing Square is wisening up. The hedge fund manager has taken his win and gotten out of Nike (NYSE: NKE). The fund decided not to risk overstaying its welcome in Nike, as it’s done in some other names, such as Valeant (NYSE: VRX) and Herbalife (NYSE: HLF). Ackman owned Nike for six months and make around $100 million.

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See 2017 Hedge Fund Letters.

He also kept things passive here. Can Ackman find his way back by sticking to being a passive value investor? He might be better served in this lane, seeing how his recent activist streak hasn't been all that great.

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Ackman's ability to stay passive is especially impressive considering the fact that Nike is now having some C-suite issues. Something Ackman could have taken advantage of. Nike's 'next' CEO stepped down as the company faces a probe over 'boys behaving badly' type of behavior.

Where does Ackman find value going forward? Retail has been a mixed back for him. He likes industrials. I guess we'll see, but hopefully, it's a new leaf being turned over for the struggling Ackman.

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