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"We have often described stock market volatility as an opportunity for Pershing Square," writes...

  • Tuesday, August 30, 2011, 3:01 PM ET
    "We have often described stock market volatility as an opportunity for Pershing Square," writes Bill Ackman. He took advantage of August's "sale" of Fortune Brands (FO), Kraft (KFT), Family Dollar (FDO), and Citi (C) to add to his stakes, while opening 2 new (undisclosed) positions. Pershing also has received permission to up its JCPenney (JCP) stake.
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    It seems as if JCP should go the way of Montgomery Wards. I started asking people I knew when the last time anyone had been to a JC Penny's. What is their market? If I am buying electronics-Best Buy, Appliances-Sears, New Lawnmower or tools-Walmart, clothes-not jcp.

    If the new CEO from apple think that consumers will have the (Ex charlies angel model-Jacquline Smith??) clothes flying off the shelves like I-pads, he may want to get paid up front.
    30 Aug 2011, 03:36 PM Reply Like
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