Closed-end funds (CEFs)—our favorite 8%+ yielding investments—have a new (and popular!) fan. And he’s making a big move I see sending CEF prices higher.
Bill Ackman Discovers What We’ve Known for Years
I’m talking about Bill Ackman, one of the best-known activist investors out there. You’ve probably seen the head of Pershing Square Capital Management, a hedge fund with $18.3 billion in assets, in the media. He’s a regular commentator.
Ackman has scored some big wins in his career, such as his 2005 investment in The Wendy’s Co. (WEN). But he’s probably better known for his dramatic misses, like his losing bid to change the board of directors at Target Corp.… Read more
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