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Startup Archive
Bill Ackman on dealing with disaster: “Make a little progress every day”
After losing $4 billion in Valeant Pharmaceuticals, other Wall Street investors started betting against his firm, Pershing Square, to further compound its catastrophic 30%+ loss and force a liquidation.
To make matters worse, his shareholders filed a lawsuit and he was in the middle of a divorce.
He eventually bought back control of his company with a loan from JP Morgan, settled the shareholder lawsuit, and resolved his divorce. But when asked how he dealt with his psychology during this period, Bill responds:
“This was not my first proximity to disaster. I had another moment in my career in 2002, and I learned this method for dealing with these kind of moments which is: you just make a little progress every day.”
During this period, he would say to himself:
“Today, I’m going to wake up and make progress. I’m going to make progress on the litigation; I’m going to make progress on the portfolio; I’m going to make progress on my life.”
He explains in the clip below:
“Progress compounds a bit like money compounds. You don’t see a lot of progress in the first few weeks and you can’t look up at the mountain top where you used to be, because you’ll just give up. Just take it step by step by step… And one day, you wake up, and you’re like ‘wow, it’s amazing how far I’ve come.’”
He reflects on the chart of Pershing Square’s share price:
“That huge drop that felt like a complete, unbelievable disaster looks like a little bump on the curve. And that really gives you perspective on these things. You just have to power through…. Nutrition, sleep, exercise, and a little progress everyday.”
Video source: @lexfridman (2024)
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Bill Ackman on dealing with disaster: “Make a little progress every day”
After losing $4 billion in Valeant Pharmaceuticals, other Wall Street investors started betting against his firm, Pershing Square, to further compound its catastrophic 30%+ loss and force a liquidation.
To make matters worse, his shareholders filed a lawsuit and he was in the middle of a divorce.
He eventually bought back control of his company with a loan from JP Morgan, settled the shareholder lawsuit, and resolved his divorce. But when asked how he dealt with his psychology during this period, Bill responds:
“This was not my first proximity to disaster. I had another moment in my career in 2002, and I learned this method for dealing with these kind of moments which is: you just make a little progress every day.”
During this period, he would say to himself:
“Today, I’m going to wake up and make progress. I’m going to make progress on the litigation; I’m going to make progress on the portfolio; I’m going to make progress on my life.”
He explains in the clip below:
“Progress compounds a bit like money compounds. You don’t see a lot of progress in the first few weeks and you can’t look up at the mountain top where you used to be, because you’ll just give up. Just take it step by step by step… And one day, you wake up, and you’re like ‘wow, it’s amazing how far I’ve come.’”
He reflects on the chart of Pershing Square’s share price:
“That huge drop that felt like a complete, unbelievable disaster looks like a little bump on the curve. And that really gives you perspective on these things. You just have to power through…. Nutrition, sleep, exercise, and a little progress everyday.”
Video source: @lexfridman (2024)
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iinvested
4Q'24 Madison Small Cap Fund on $KN, $VFC, $MEDP
https://t.co/vieD6sKDdr
More fund letters here:
https://t.co/dVDkhhvUUk https://t.co/v8RiyxxE2c
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4Q'24 Madison Small Cap Fund on $KN, $VFC, $MEDP
https://t.co/vieD6sKDdr
More fund letters here:
https://t.co/dVDkhhvUUk https://t.co/v8RiyxxE2c
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Dimitry Nakhla | Babylon Capital®
10 Stocks Where FCF CAGR is Similar or Greater than Stock Price CAGR in the Past 5 Years 💸
🌐 MSCI Inc $MSCI
•FCF CAGR: 16.2%
•Stock CAGR: 12.2%
🧬 Novo Nordisk $NVO
•FCF CAGR: 21.4%
•Stock CAGR: 19.7%
📈 S&P Global $SPGI
•FCF CAGR: 17.2%
•Stock CAGR: 11.9%
🖱️ Alphabet $GOOG $GOOGL
•FCF CAGR: 18.6%
•Stock CAGR: 19.7%
🗂️ Intuit $INTU
•FCF CAGR: 16.4%
•Stock CAGR: 14.1%
📊 Manhattan Associates $MANH
•FCF CAGR: 16.8%
•Stock CAGR: 18.9%
💵 Mastercard $MA
•FCF CAGR: 19.4%
•Stock CAGR: 10.6%
🚘 Copart $CPRT
•FCF CAGR: 28.7%
•Stock CAGR: 18.1%
🏦 Intercontinental Exchange $ICE
•FCF CAGR: 10.1%
•Stock CAGR: 11.5%
📲 Applied Materials $AMAT
•FCF CAGR: 21.7%
•Stock CAGR: 20.4%
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10 Stocks Where FCF CAGR is Similar or Greater than Stock Price CAGR in the Past 5 Years 💸
🌐 MSCI Inc $MSCI
•FCF CAGR: 16.2%
•Stock CAGR: 12.2%
🧬 Novo Nordisk $NVO
•FCF CAGR: 21.4%
•Stock CAGR: 19.7%
📈 S&P Global $SPGI
•FCF CAGR: 17.2%
•Stock CAGR: 11.9%
🖱️ Alphabet $GOOG $GOOGL
•FCF CAGR: 18.6%
•Stock CAGR: 19.7%
🗂️ Intuit $INTU
•FCF CAGR: 16.4%
•Stock CAGR: 14.1%
📊 Manhattan Associates $MANH
•FCF CAGR: 16.8%
•Stock CAGR: 18.9%
💵 Mastercard $MA
•FCF CAGR: 19.4%
•Stock CAGR: 10.6%
🚘 Copart $CPRT
•FCF CAGR: 28.7%
•Stock CAGR: 18.1%
🏦 Intercontinental Exchange $ICE
•FCF CAGR: 10.1%
•Stock CAGR: 11.5%
📲 Applied Materials $AMAT
•FCF CAGR: 21.7%
•Stock CAGR: 20.4%
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Offshore
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Stock Analysis Compilation
Gemway on Zomato $ZOMATO IN
Thesis: Zomato’s leadership in food delivery, rapid user growth, and Blinkit expansion position it for sustained long-term success in India’s digital economy
(Extract from their Q4 letter) https://t.co/5KKrpqzDGi
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Gemway on Zomato $ZOMATO IN
Thesis: Zomato’s leadership in food delivery, rapid user growth, and Blinkit expansion position it for sustained long-term success in India’s digital economy
(Extract from their Q4 letter) https://t.co/5KKrpqzDGi
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Offshore
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Startup Archive
"The enemy of most dreams and intuitions, and one of the most dangerous and stifling concepts ever invented by humans, is the career."
- Steve Jobs
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"The enemy of most dreams and intuitions, and one of the most dangerous and stifling concepts ever invented by humans, is the career."
- Steve Jobs
"Don't be a Career" by Steve Jobs https://t.co/qRzqb5kJlO tweet
Offshore
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Startup Archive
RT @mikemcg0: "Think of your life as a rainbow arching across the horizon of this world. You appear, have a chance to blaze in the sky, then you disappear."
- Steve Jobs
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RT @mikemcg0: "Think of your life as a rainbow arching across the horizon of this world. You appear, have a chance to blaze in the sky, then you disappear."
- Steve Jobs
"Don't be a Career" by Steve Jobs https://t.co/qRzqb5kJlO tweet
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Finding Compounders
Francis Chou’s 1999 fund letter
It’s a must read
He criticizes the prices at which investors were buying internet stocks at. https://t.co/dX8FJU1RwL
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Francis Chou’s 1999 fund letter
It’s a must read
He criticizes the prices at which investors were buying internet stocks at. https://t.co/dX8FJU1RwL
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Offshore
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Stock Analysis Compilation
Gator CM on Societe Generale $GLE FP
Thesis: Société Générale’s restructuring, cost-cutting, and focus on shareholder returns create a compelling value opportunity
(Extract from their Q4 letter) https://t.co/P7gqyaTmgC
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Gator CM on Societe Generale $GLE FP
Thesis: Société Générale’s restructuring, cost-cutting, and focus on shareholder returns create a compelling value opportunity
(Extract from their Q4 letter) https://t.co/P7gqyaTmgC
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Ahmad Jivraj
My latest article coming tomorrow:
Deepseek And The Power of Catalysts
A 50-Bagger in a Weekend
Examples of how catalysts can generate significant returns
Subscribe here so you dont miss it
https://t.co/WWKnCsvi3N
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My latest article coming tomorrow:
Deepseek And The Power of Catalysts
A 50-Bagger in a Weekend
Examples of how catalysts can generate significant returns
Subscribe here so you dont miss it
https://t.co/WWKnCsvi3N
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