Bill Ackman is a billionaire investor who is known for his value investing style. He has said that Warren Buffett is his “unofficial mentor.” There are a few reasons why Ackman is a Buffett devotee:
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Investment philosophy: Ackman and Buffett share a similar investment philosophy. They both believe in buying and holding high-quality companies for the long term. They also both believe in investing in companies with strong competitive advantages and durable earnings power.
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Track record of success: Buffett is one of the most successful investors of all time. He has generated an average annual return of over 20% for his investors over the past 50 years. Ackman has also been a successful investor, although his track record is not as long as Buffett’s.
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Personality: Ackman and Buffett are both known for their intelligence, wit, and humility. They are also both known for being passionate about investing.
Ackman has said that he has learned a lot from Buffett over the years. He has said that Buffett has taught him the importance of patience, discipline, and long-term thinking.
Here is a quote from Ackman about Buffett:
“Warren Buffett is the greatest investor of all time. He has taught me everything I know about investing. He is my mentor and my friend.”
Ackman’s admiration for Buffett is clear. He sees Buffett as a role model and a mentor. He has learned a lot from Buffett over the years, and he continues to apply Buffett’s investment principles to his own investing.