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 Watch part one of our interview with Bill Ackman here:    • Will Bill Ackman invest in Anthropic?