Wall Street whale Bill Ackman is known to patiently stalk his prey for years. Yes, beneath his smooth exterior and soft-spoken demeanor lies the heart of a killer. Should you trade in his wake?
Ackman’s most recent prey has been the bond insurers. When these backstops of the financial system were cracking, Ackman was profiting. He began stalking the high flying group five years ago.
“In August of 2002 I met the CEO of the Ambac . And right around that time I started shorting the stock,” he told CNBC.