Ackman, Rubenstein on Markets, Money and More

David Rubenstein's initial comments on the importance of sound asset diversification and risk management cannot be overstated. I've been trying to grow my portfolio to $100,000 for some time and would welcome any other suggestions.

At about 10:50 he describes the 8 criteria for investment success that sits on his staffs’ desk as a deal toy 1. Simple and predictable 2. Free cash flow generative 3. Dominant market position 4. Large barriers to entry 5. High return on capital 6. Limited exposure to extrinsic risks we can’t control 7. Strong balance sheet and don’t need access to outside capital to survive 8. Excellent management and good governance

0:32 Why market seems to be so much higher than economies? 1:58 Why volatility is so high? 2:55 CDS deal and hell is coming.. - bit of overstatement. We commit to pay $5M for 5 years. 6:51 What would you do if the next president is Donald Trump? - It wouldn't change anything. 7:25 How did you get into activist investor besides value investor or etc? 8:55 Pershing Square. Where did you get the name? 9:41 Compound rate of return of Pershing Square? - 11 times. 16% IRR 10:17 What would you say about your mistake ( Herbal life, Valeant) - 8 principles. Moment of reflection. 11:54 Do you feel OK for confrontation for time? 13:20 Are you worried about impact of the debt? Value of dollar? Inflation? 15:16 When do you think we can out of the recession? - 21 2Q 16:42 Do you worry that this could keep going without vaccine in 21? 18:11 What would you tell both of them( Fed, Treasury )?

Wish Ackman did more interviews.

This is how you interview….the interviewer’s tone remained uniform throughout. And Bill Ackman is one multi billionaire that really be giving information and insight into economics and finance, he speaks clearly and straight forward, I respect that!

keep up the great work Bill! Create value, encourage support for the poor and the vulnerable in our community. stay humble. Be blessed

Looking pretty good for 54! Anyways he’s very concise and insightful in his responses. Great interview

Watched the interview for three times. Love both of these two great minds - particularly when one was asking with a pair of eyes full of curiosity and interest and the other answering with a lot humbleness and open mind

Bill Ackman is a funny dude, goodluck with future investments, and interviews. I look forward to following your progress

great interview, questions, and responses. very direct.

Bill Ackman has gained a lot of my respect and interest in investment banking lately

Thank Mr Rubenstein for this inteview Mr Ackman is a class act having his parents living with him

That was a magnificent interview. I was on his rowing team at Harvard - NOT!

Two brilliant minds in the world of private equity.

Bill never disappoints

Phenomenal interview. Ackman’s long-term, ultra-rational perspective is especially refreshing in the midst of today’s uncertain environment.

I thoroughly enjoyed the interview. Both David and Bill are really charming.

It was a 27 million dollar bet per month for 5 years. He only needed to wait 30 days to cash in on 3 billion

David is a good interviewer

Even billionaires appreciate living with parents. I bet it was detoxing to rid oneself of the office for a certain period of time and spend months with the most important people in life. Great interview.