When Bill Ackman Was A Kid, All He Wanted Was To Join The Hobos (Guessing)

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Bill Gates, too. And, back in the days when there really were hobos, Warren Buffett. Alas, none found themselves with a brindle stick over their shoulders, riding the rails and steering clear of the law. Instead, the became billionaires. But those railroading dreams never died. They just turned into many, many hobo nickels, what with Pershing Square’s investment in Canadian Pacific Railway becoming...

…the second-best ever for Mr. Ackman’s Pershing Square Capital Management LP, according to an internal fund document and a person familiar with the matter. The firm has taken profits of about $1 billion selling shares over the past year or so, and currently has about $2.2 billion in additional paper profits….

Mr. Ackman isn’t the only high-profile investor who jumped on this investing train. Bill Gates, through his private investment firm Cascade Investment LLC, is the largest investor in Canadian National Railway Co….

Mr. Gates’s buddy Warren Buffett also became a railroad fan after Cascade. Burlington Northern Santa Fe is the largest-ever acquisition by Mr. Buffett’s Berkshire Hathaway.

Ackman, Buffett, Gates Ride the Rail Boom to Profits [WSJ MoneyBeat blog]

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