Bill Ackman Says Elon Musk Was "Not An Expert," But Did This to Become a Billionaire Entrepreneur
Bill Ackman is known for plenty of his own business successes. As founder of hedge fund Pershing Square Capital Management, the billionaire investor has stood out for going against the crowd -- and making billions as a result. For instance, Ackman bet on the failure of MBIA, a municipal bond insurer exposed to the subprime mortgage market -- and won that bet during the financial crisis of 2007 and 2008.
Ackman uses instruments such as credit default swaps and short positions to bet on potential outcomes in the financial world. And as an activist investor, he's bought significant positions in big companies and weighed in on how those companies are run. In a recent post on Twitter, Ackman spoke about someone else who goes against the crowd: Tesla (NASDAQ: TSLA) chief executive officer Elon Musk. Let's take a closer look -- and see what it may mean for the future of the Tesla share price.
Ackman wrote a long post on Twitter over the weekend about how, sometimes, those considered experts on a subject aren't the ones who know best. Because something hasn't happened before, they imagine that particular thing won't happen in the future.
Source Fool.com
