Billionaire Bill Ackman May Be the Next Warren Buffett -- He's Buying 2 Artificial Intelligence (AI) Stocks Hand Over Fist

Warren Buffett took control of Berkshire Hathaway in 1965. He promptly turned the then-textile operation into an insurance-focused holding company. The premium payments created a steady inflow of investable cash that Buffett has used to fund acquisitions and stock purchases, creating tremendous value for shareholders. Berkshire stock has gained about 5,900,000% since he took control.Billionaire Bill Ackman wants to recreate that success with Howard Hughes, a holding company focused on real estate development. Ackman, through his hedge fund Pershing Square Capital, added $900 million to an already substantial stake in Howard Hughes earlier this year, saying it was a "superb platform to build a faster-growing, high-returning holding company."More recently, Ackman hosted Howard Hughes' annual shareholder meeting, where he explained his vision for turning the company into a "modern Berkshire Hathaway." He even suggested that Howard Hughes was at a more attractive starting point than Berkshire circa 1965 because its core real estate business is booming, while Berkshire's core textile business was in decline when Buffett took control.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool