Monday, June 01, 2009

There's no crying in activist investing

I've been a big Bill Ackman fan over the years. Made a lot of great calls. Put on a great show on Charlie Rose. So I'm trying to figure out some way to find it okay that at the Target annual meeting, after getting pulverized in his proxy fight with the board, he actually cried a little bit. But I can't. I don't care how much value his strategy would have unlocked, it's disappointing.

Ohmigawd I hadn't even gotten to the part where he responds to Joe Nocera (who reported the tearing-up) with a letter running 5,000 words! Bill, come back to us!

Update 2:
Words 13-18 out of 5,000 are "I also have a thick skin..."

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