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Experience is making mistakes and learning from them.

Bill Ackman

We invest generally in very good companies that have lost their way. And with better management, enormous value can be created.
BILL ACKMAN

Company Creation Goodness Investment Management Value
I love what I do. I don’t do it for the money. I work on behalf of investors that I like and want to do well for. I’m a competitive person.
BILL ACKMAN

Competition Investment Love Money Myself Nature Person Work
You can learn investing by reading books.
BILL ACKMAN

Book Business Investment Learning Reading Yourself
If I believe that I am right, I will take it to the end of the earth until I am proven right.
BILL ACKMAN

Believe Earth End Evidence Myself Right
What the market tells you in the short term is what a certain subset of people believe. That doesn’t mean they’re right.
BILL ACKMAN

Believe Marketing People Right Short
I have more money than I need. I don’t need to work for a living. I do this because I love what I do.
BILL ACKMAN

Live Love Money Myself Need Work
I think good private equity investors create a lot more economic value than they destroy.
BILL ACKMAN

Creation Destroy Economics Equity Goodness Myself Private Value
Experience is making mistakes and learning from them.
BILL ACKMAN

Experience Learning Mistake
I’m a very straightforward person. I say precisely what I think. Sometimes it rubs people the wrong way.
BILL ACKMAN

Myself People Person Thinking Wrong
What I love about tennis is that I’m better now than I was when I was 20.
BILL ACKMAN

Better Love Myself Sports Tennis
In the investing business you need a – a high degree of confidence but you also need a high degree of humbleness and you have to balance those two… Humbleness comes from mistakes.
BILL ACKMAN

Balance Business Confidence Humble Investment Mistake Yourself
Ultimately, investors are – are only as good as their track records.
BILL ACKMAN

Goodness Investment Record Track
Let me win? That doesn’t exist in my house. No one lets anyone win. Fight to the death.
BILL ACKMAN

Death Existence Fight Home Myself Win
The untold secret of McDonald’s is that when you sell a restaurant to a franchisee, sales typically go up a lot because the franchisees do a much better job managing the store.
BILL ACKMAN

Better Management Sales Secret Sold Store
Investing is one of the few things you can learn on your own.
BILL ACKMAN

Investment Learning Yourself
I’m not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making – just the facts.
BILL ACKMAN

Decision Emotional Fact Investment Myself Purity

Experience is making mistakes and learning from them.

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Experience is making mistakes and learning from them.

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