Bill Ackman Says He Treasures His Biggest Investing Mistakes

Bill Ackman said he treasures his biggest mistakes, arguing that setbacks can become an edge if studied properly. He cited expanding a hedge fund mandate into private assets as one such mistake, which created complexity when investors sought to redeem capital.
At Pershing Square, Ackman said he avoided repeating that error by not making private investments. He said long-term success comes from learning from mistakes rather than pushing them aside.