Bill Ackman Quotes

Good shareholder activists have incredible interest in the company because they own a lot of it.

I love using a targeted acquisition approach in conjunction with a business that has a clear strategy and strong organic growth.

As CEO of Aetna, I was a buyer of portfolio companies rather than a participant in the value creation process. From the end of the assembly line, what happened in manufacturing wasn't visible to me.

I have long believed the corporate world is plagued by poor capital allocation decisions.

CEOs are also chief capital allocators. This is a point Warren Buffett has repeatedly made: that the role management plays in allocating capital across businesses and boosting returns on that capital is a critical yet poorly recognized one.

Over the time that I followed Warren Buffett, one CFO told me, it's very important to pay attention not only to what Warren Buffett says and what he actually does - often there are subtle differences between the two.

People used to think that private equity was basically just a compensation scheme, but it is much more about making companies more efficient.

I think good private equity investors create a lot more economic value than they destroy.

When investors, particularly investment bankers, talk about splitting up companies, there's a lot of discussion about multiple expansion, and the reality is multiple expansion is an outcome, not a strategy.

I don't invest in companies where my mental model is that they need to get themselves acquired in the next few years - or ever.

I think every company has its own unique approach to creating shareholder value.

The disciplined approach to pursuing and selecting the most attractive investment opportunities continues to distinguish ExxonMobil. We are long-term driven, and we're patient. And we're not opportunity-constrained.

When we do an investment, we always ask, 'Can we affect the outcome? When buying a company, can we have an impact?' That's a different style of investing than a passive investor in the stock market. To me, that's how you're taking the risk out of it. You know what your capability is and how you can enhance value.

We absolutely take no decisions based on the share price, not for LVMH.

What we are doing is increasing our focus on cash flow, return on investment, and value creation.

We believe that we can deliver better shareholder value by remaining an independent retailer.

Success in M&As comes with executing with vigour along with the obvious right choices that you got to make.

Too many companies are running their business into the ground, I would argue, by being myopically short-term focused on the shareholder.

I buy companies I want to own. I buy companies that make a lot of money, that don't have a lot of debt, and that I can understand.

Good debt accrues assets that generate positive returns and externalities.

The strategic plan to transform Valeant smartly focuses on rebuilding the company's core franchises in ophthalmology, dermatology, and gastroenterology while simultaneously using the proceeds from the sale of non-core assets and operating cash flow to de-lever the company.

PayPal is a strong business: it has a strong balance sheet and free cash flows, and it will help us take a look at where we want to independently invest.

Whenever I invest, I invest in the person as well as the business.

In early 2011, I had the opportunity to meet and spend significant time with Alfred Lin, a partner at Sequoia Capital and co-founder of Zappos.

Businesses look for stability; they look for direction.