Subject: Re: O/t, very interesting structure from Bill A
“Ackman is hoping to be the next Buffett, the fees say otherwise.”

Confession- I invested a small sum in May ‘21 in his massive SPAC, Pershing Square Tontine Holdings (PSTH), which was ultimately dissolved in July 2022 and returned its $4 billion to investors after failing to find an acquisition target. At least we made some money on Vivendi/UMG. I typically enjoy interviews with Ackman, but I’ll pass on this offer. He certainly is no Warren Buffett, but then again, no one is!

"Fool me once…”