As Bill Ackman took the stage on Wednesday at the Ira Sohn Conference in New York, the audience erupted in applause expecting to hear one of the day’s best ideas. Instead, they spent their time checking emails as the chief of Pershing Square ignored Herbalife and J.C. Penney, and chose pitch Procter & Gamble as an underpriced, yet amazing company.
Hot shot hedge fund managers are known to have a huge impact on stock prices, particularly when they speak in high profile conferences like Ira Sohn. Ackman, who everyone was aching to listen to, disappointed the audience sitting at New York City’s Lincoln Center.
