Pershing CapitalGood morning,
Another day, another new nickname..lol. There has been r-tard, pigeon, pigeon-head and now stooge.
Anyways, Bill Ackman's Pershing Capital has released its shareholder letter and on page 10 there is a section devoted to "Permanent Capital". He articulates it in a different sort of way, but it demonstrates that perpetual capital is critical to any business, including Brookfield. We are all nicely invested in a critical aspect of a long term business. In Pershing's case, you better have faith in Bill Ackman and in Brookfield's case, you better have faith in Bruce Flatt.
On its own merit, permanent capital is low in status but it usually pays well. So yes, Flatt Flatt Flatt is my mantra. If you are a small investor you need to make yourself knowledgeable but if think you need to read every word single word of every SEC filing (eg a guarantee) and think you are gettting yourself ahead of Mr Market....I wish you good luck! However, chastising others for not paying attention because of this, makes you a complete moron, to put it as nice as I can.
Here is the link:
https://assets.pershingsquareholdings.com/2024/03/22201541/Pershing-Square-Holdings-Ltd.-2023-Annual-Report.pdf#page=9
Have a great day,
Carena