Bill Ackman

  • Gotham
  • Pershing Square
  • Herbalife
  • MBIA - Bond Insurer - Monoline
    • Eric Dinallo, NYSID
  • [MBIA - Bond Insurer - Monoline]
  • 2002 1209 - Report - Is MBIA Triple A?,  by Bill Ackman, Gotham Partners - 55p
  • <WishList> - Letter to Moody's and the S&P about Ambac (ABK) and MBIA
  • 2007 - Report - Who's Holding the Bag, Bill Ackman, Pershing Square - 64p
  • 2007 1201 - NYT - Short Seller Sinks Teeth Into Insurer, by Joe Nocera - [link]
  • 2008 0131 - Bill Ackman to Eric Dinallo Superintendent of Insurance State of New York, re: Monolines, Bond Insurer Transparency - 20p
    • Sean Dilweg, Commissioner of Insurance State of Wisconsin
    • 5 directors at the Securities and Exchange Commission
      • “Open Source Research”
  • 2008 0214 - GOV (House) - The State of the Bond Insurance Industry, Paul Kanjorski (D-PA)  ---  [BonkNote]
  • 2008 0214 - MBIA - MBIA Releases Text of Letter Sent to Regulators on 'Open Source Model', re: Bill Ackman - 5p
  • 2010 0423 - FCIC - FCIC memo of staff interview with William Ackman - 3p
  • letter, which was addressed to Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and others.
  • 2020 - Book - Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff, by Christine S. Richard
  • (p2) - MBIA had risk, “hidden in an entity with no ability to absorb risk.”
    • He believes MBIA encouraged the SEC and NY AG to investigate him.
    • Asked why he chose to short MBIA, he said MBIA was “crooked and stupid” where Ambac was simply “stupid.”
    • MBIA used insurance company capital to guarantee derivatives, an act which is illegal in NY.
      • They set up “transformer” SPV in order to get around the NY Insurance Department rules.
  • He missed AIG, assuming that Hank Greenberg was too smart to get caught so short on capital.

2010 0423 - FCIC - FCIC memo of staff interview with William Ackman - 3p

  • Since 2002, Pershing Square's founder, William Ackman, had been the monoline industry's most vocal skeptic, publishing a number of reports questioning the insurers' high credit ratings and periodically shorting the companies' stock. 160

2010 - AP - Inefficiencies in the Information Thicket: A Case Study of Derivative Disclosures During the Financial Crisis - [link]

  • Investing with Leaders - Warren Buffett talks about Bill Ackman & Herbalife Scam - [VIDEO-YouTube-03:35]
  • Bloomberg Originals - Bill Ackman: Herbalife Distributors Turning State’s Evidence - [VIDEO-YouTube-26:17]