Oh Acky, Acky, Acky. What are we going to do with you? Your tenacity and drive is so unrelenting that it borders on (hey, we said borders on) tilted. We are at once awed and revolted (but the guilt and amazement pulls us right back to awed) by moves like urging (and getting) investors to double down on Target after a major blow to Pershing Square IV. And how can we resist quips like:
We think inflation is a friend of the company and the nuisance value of the equity can be meaningfully greater than zero and I can be a nuisance.
No, you are made of iron. And when you assume the podium at the Ira Sohn Research Investment Conference to make the case that General Growth Partners is "...not your typical bankruptcy," E.F. Hutton like, we listen.*
Sure, occasionally we get some throwaways. Like for instance:
"You can make a lot of money investing in a company even if it files for bankruptcy, as long as the assets are worth more than the liabilities...."
But even John Madden occasionally utters such useless platitudes as "If you want to win a football game, you've got to score some points," and the New York Times is about as likely to highlight your best quotes as they are to win the 100 yard dash while tied up with a Dictaphone lovingly knotted by a Japanese fetishist. In short, you can have a pass on this one.
*Call us! We love you!
Investor Ackman Sees 13 - Fold Return on General Growth Stake [The New York Times]