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Ackman notes that Air Products was brought to them by a shareholder of Canadian Pacific, suggesting a belief in the company's potential for improvement and value creation through their involvement.

Ackman discusses the creation of Pershing Square Holdings as a way to manage capital and pursue high-quality investments, indicating a long-term strategy focused on significant investments in companie

Ackman discusses the challenges of GAAP accounting for companies like Valeant, suggesting that while it has been acquisitive, the focus should be on understanding the economic earnings rather than jus

Bill Ackman expresses a strong belief in being short Herbalife, suggesting that if the best arguments against it are not convincing, he would want to increase his short position. He highlights Amazon

Zoetis is the largest company in animal health, benefiting from rising income levels and increasing demand for protein in diets. The companion animal health segment is also expected to grow as more af

Ackman is open to hearing contrary views on Valeant, indicating that he is aware of the significant debate surrounding the stock and is willing to consider opposing perspectives.

Ackman considered McGraw-Hill due to its valuable assets like the S&P franchise but ultimately decided against investing due to concerns over potential liabilities associated with the bond rating busi

Bill Ackman believes that Herbalife is a pyramid scheme and that the quality of work done by those who own the stock is poor. He asserts that if investors continue to hold the stock, they will ultimat

Buy Progressive Waste Solutions equity with a three-year base case share price of $46, representing ~55% upside from the current share price. The investment thesis is supported by a new management tea

Chicago Bridge & Iron's acquisition of Shaw Group at a premium indicates the value of Shaw's business and the effectiveness of its management team, reinforcing the investment thesis for Shaw.

Cott Corporation was initially considered for purchase at $18 per share despite its rapid rise from $3, as the potential for future growth was recognized. The stock eventually appreciated significantl

Investing in Six Flags was driven by the management of Jim Reid-Anderson, who has a proven track record of success in turning around companies. His plans for Six Flags post-bankruptcy were reasonable

The Shaw Group has a strong balance sheet with over $1 billion in unencumbered cash and a solid management team that has demonstrated success in building the business. Despite positive developments, t

CDK Global is a leader in providing technology solutions for the automotive retail industry. With a strong customer base and recurring revenue model, the company is poised for growth as it continues t

Schibsted Media Group is undervalued due to its strong digital transformation and growth in online classifieds. The company's diversified revenue streams and leadership in the Nordic market position i

JetBlue Airways is well-positioned to capitalize on the growing demand for air travel, with a strong brand and customer loyalty. The company has a solid balance sheet and is expanding its routes, whic

First Solar is facing significant headwinds due to increasing competition in the solar industry and potential regulatory changes that could impact its profitability. The company's reliance on governme

Equity Bank has grown into a large and fast-growing company under the leadership of James Mwangi, making it a strong investment due to its solid management and growth trajectory.

Stanbic IBTC is a financial services company in Nigeria with three lines of business: personal loans, investment banking, and asset management. Given its dominant position in the asset management sect

Countrywide is poised to benefit from a recovery in housing transaction volumes in the U.K., which are currently below historical levels. The company has improved its cost structure post-recession, al

B&M is an over-hyped IPO story stock, trading at high multiples that discount overly optimistic assumptions about market share in a saturated UK market. The competition is intensifying, which will lik

Holloway's recent acquisition of Royal Host presents a significant undervaluation opportunity. The market is currently pricing Holloway at 7.7x free cash flow based on trailing results, while peers tr

Newalta is trading at a low valuation of 3x to 4x free cash flow and has a near duopoly in its core business of outsourced oilfield waste management, making it an attractive investment opportunity.

Paramount Resources is controlled by a skilled owner-operator, Clay Riddell, whose capital allocation strategies have historically added value. The stock appeared undervalued, with a single asset wort