Uploaded February 2024 | Updated September 2026, 3 weeks ago
Bill Ackman is an investor who has led some of the biggest and controversial financial trades in history. He is founder and CEO of Pershing Square Capital Management. Please support this podcast by checking out our sponsors:
- LMNT: drinkLMNT.com/lex to get free sample pack
- Policygenius: policygenius.com/lex
- AG1: drinkag1.com/lex to get 1 month supply of fish oil
- Eight Sleep: eightsleep.com/lex to get special savings
- BetterHelp: betterhelp.com/lex to get 10% off
TRANSCRIPT:
lexfridman.com/bill-ackman-transcript
EPISODE LINKS:
Bill's X: twitter.com/BillAckman
Pershing Square Holdings: pershingsquareholdings.com
Pershing Square Foundation: pershingsquarefoundation.org
Neri Oxman conversation: youtube.com/watch?v=XbPHojL_61U
Books mentioned:
The Intelligent Investor: amzn.to/3ONnaZy
America's Cultural Revolution: amzn.to/3SDz1dY
PODCAST INFO:
Podcast website: lexfridman.com/podcast
Apple Podcasts: apple.co/2lwqZIr
Spotify: spoti.fi/2nEwCF8
RSS: lexfridman.com/feed/podcast
Full episodes playlist: youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4
Clips playlist: youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41
OUTLINE:
0:00 - Introduction
0:47 - Investing basics
5:39 - Investing in music
14:00 - Process of researching companies
18:39 - Investing in restaurants
24:08 - Investing in Google
29:50 - AI
35:05 - Warren Buffet
37:14 - Psychology of investing
46:45 - Activist investing
56:33 - General Growth Properties
1:12:49 - Canadian Pacific Railway
1:20:13 - OpenAI
1:24:24 - Biggest loss and lowest point
1:39:13 - Herbalife and Carl Icahn
1:56:03 - Oct 7
2:02:34 - College campus protests
2:21:01 - DEI in universities
2:41:52 - Neri Oxman
3:07:22 - X and free speech
3:11:46 - Trump
3:19:22 - Dean Phillips
3:26:28 - Future
SOCIAL:
- Twitter: twitter.com/lexfridman
- LinkedIn: linkedin.com/in/lexfridman
- Facebook: facebook.com/lexfridman
- Instagram: instagram.com/lexfridman
- Medium: medium.com/@lexfridman
- Reddit: reddit.com/r/lexfridman
- Support on Patreon: patreon.com/lexfridman
Bill Ackman is an investor who has led some of the biggest and controversial financial trades in history. He is founder and CEO of Pershing Square Capital Management. Please support this podcast by checking out our sponsors:
- LMNT: drinkLMNT.com/lex to get free sample pack
- Policygenius: policygenius.com/lex
- AG1: drinkag1.com/lex to get 1 month supply of fish oil
- Eight Sleep: eightsleep.com/lex to get special savings
- BetterHelp: betterhelp.com/lex to get 10% off
TRANSCRIPT:
lexfridman.com/bill-ackman-transcript
EPISODE LINKS:
Bill's X: twitter.com/BillAckman
Pershing Square Holdings: pershingsquareholdings.com
Pershing Square Foundation: pershingsquarefoundation.org
Neri Oxman conversation: youtube.com/watch?v=XbPHojL_61U
Books mentioned:
The Intelligent Investor: amzn.to/3ONnaZy
America's Cultural Revolution: amzn.to/3SDz1dY
PODCAST INFO:
Podcast website: lexfridman.com/podcast
Apple Podcasts: apple.co/2lwqZIr
Spotify: spoti.fi/2nEwCF8
RSS: lexfridman.com/feed/podcast
Full episodes playlist: youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4
Clips playlist: youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41
OUTLINE:
0:00 - Introduction
0:47 - Investing basics
5:39 - Investing in music
14:00 - Process of researching companies
18:39 - Investing in restaurants
24:08 - Investing in Google
29:50 - AI
35:05 - Warren Buffet
37:14 - Psychology of investing
46:45 - Activist investing
56:33 - General Growth Properties
1:12:49 - Canadian Pacific Railway
1:20:13 - OpenAI
1:24:24 - Biggest loss and lowest point
1:39:13 - Herbalife and Carl Icahn
1:56:03 - Oct 7
2:02:34 - College campus protests
2:21:01 - DEI in universities
2:41:52 - Neri Oxman
3:07:22 - X and free speech
3:11:46 - Trump
3:19:22 - Dean Phillips
3:26:28 - Future
SOCIAL:
- Twitter: twitter.com/lexfridman
- LinkedIn: linkedin.com/in/lexfridman
- Facebook: facebook.com/lexfridman
- Instagram: instagram.com/lexfridman
- Medium: medium.com/@lexfridman
- Reddit: reddit.com/r/lexfridman
- Support on Patreon: patreon.com/lexfridman
