Pershing Square hedge fund manager Bill Ackman highlighted prison operator Corrections Corp. as one of the best real-estate businesses around, during a presentation at the Value Investing Congress in New York on Tuesday. The government is a major customer and there is strong demand for prison space and limited supply, Ackman explained. "It's also a hedge against your hedge fund business, because as the SEC ramps up..." Ackman said, prompting laughter at the conference. "We shouldn't joke about that," he added.
Bill Ackman's New Mystery Investment Is Super Hot And Cool But It Lives In A Different Town And Goes To A Different School So You've Probably Never Heard Of It
But it's totally real you guys, whatever, stop laughing.