Bill Ackman on Charlie Rose 11/11 (video)

Great line..."the gov't owns 35% of every corporations income and 40% of every wealthy individual through taxes and that is quite an off balance sheet asset".

Ackman goes into details on credit default swaps (CDS), hedge funds, ratings agencies, and bond insurers.

Other quotes:

"Up until recently the world was a world that believed" (in ratings)

"Regulators deferred to credit ratings agencies"

"This is the single best time in my career to invest, the spread between value and price is the widest it has been"





Disclosure ("none" means no position):
Visit the ValuePlays Bookstore for Great Investing Books