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Bill Ackman Adds Citi, ADP, Sells Yum In Q2
Pershing Square's Q2 13F is out and it seems that Bill Ackman's fund has had a few notable changes in its holdings, most notable of which is the addition of 146.5 million shares of Citi. Alas, it may be too little to late to jump on the John Paulson Recovery fund (we are waiting for that particular 13F to be released any minute). At least the white haired manager did not get into Bank of America, which has been in gradual freefall mode for the past 2 months. Pershing also added a new position in ADP, which amounts to 8.3 million shares, added a little in Kraft, while selling nearly his entire Yum position, as well as offloading a token amount of Target. GGP was flat at 24 million shares.
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I wonder if he was stoned and purchased the Citi shares at nearly $5 on 4-20.
I really don't think people get it. People keep talking about the end of the world and the economic collapse but still want to make more fiat money as if thats going to stop an angry mob from gutting everyone in their path. Make up your mind, either the collapse is happening or it isn't.
Good luck, I hope the cash will keep you warm at night.
Come to think of it, the BTU value of a $50 is the same as a $1. So if you are one of the fiat hoarders, you better stash the small denomination bills....
lol
Septic-
Out of curiosity if you had $100,000 and you invested in all original 30 DOW stocks how much would you be up? (Assuming you are the"buy and hold" type)
Hey Bob,
I don't know, hoping you do to educate me in this regard.. but, if you would like me to venture a guess... I would venture that it would actually be worth less than 100,000 in value terms and likely in numerical terms as well... as most of the original 30 have likely have gone bankrupt over the years.
So, whats the answer?
-septic
The complete failure of the US economy, if it even happens will be in stages. Unless their is a complete civil war, I think there is an opportunity to increase your US dollar holdings shorting the market and have time to move some of it into another currency or gold.
Hey Chris,
I agree with it occurring in stages, however... what if these stages progress over the next few months in a rapid fashion? It is not unreasonable to see the world not accepting our worthless fiat currency for oil and other goods. This could occur overnight. Increased joblessness could cause riots which could lead to severe shortages... (example: greece shut down almost from less than one week of truckers striking)
I am not all doom and gloom... I just think preparing for such this possibility is essential. Best to prepare first. I wonder how many people here are prepared for that. What good is a million dollars if it can't buy you a loaf of bread(in the worst case scenario).
-septic
I agree we need to prepare, but I just don't see everyone abandoning our currency that quickly given the options. I don't see how the Yen or Euro are in much better position, nor do I believe that the Yuan is that attractive given the even greater amount of misleading data out of that government. Are there enough AUD or CAD to satisfy demand if the USD goes out? I don't think so. That leaves gold and precious metal. I don't see an American public smart enough, or courageous enough to abandon what they know for a metal that quickly.
It is a fair point and preparing for both is invaluable.
C = bet that the 25-year secular credit expansion is far from over.
ADP = bet that job growth returns with a vengeance.
Both positions seem to require a pretty optimistic outlook. I guess I didn't know that Leo was now temping at Pershing Square.
ROFLMAO!!!!!!!
What a moron!
About a year ago I read that the U.S. is going to collapse in "stages" . (I do not remember where I read this, so, I cannot reference it.)
Stage #1 = collapse in jobs.
Stage #2 = the banking sector collapsed in 2007 (we all know that the U.S. banking system is insolvent) .
Stage #3 = the stock market collapse (yet to come) .
Stage #4 = societal collapse (yet to come).
So, PUT THEM ALL TOGETHER OVER A 10-YEAR PERIOD & YOU HAVE THE BIG COLLAPSE !! See how smart Robert Rubin & Larry Summers are ? Spread the collapse out & it won't seem so bad until you look backwards !!
The citi lights turn my blues into gold
Hang on to your YUM - you know Taco Bell is the only survivor of the food chain wars.
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