Bill Ackman takes shot at Warren Buffets conservative investment strategy

Hedge fund manager Bill Ackman took a shot at Warren Buffett’s investment strategy, calling it too conservative, and claimed Berkshire Hathaway’s businesses would likely run better under the next chief executive.The 94-year-old Buffett has been regarded as one of the world’s most successful investors, earning the nickname the “Oracle of Omaha.” But Ackman, who runs Pershing Square Capital Management, argued during a recent podcast appearance that Buffett’s investment strategy has grown too cautious.He believes Greg Abel, Buffett’s planned successor, will do a better job running the holding company’s businesses.“Now you’re going to have more of an operator in charge of Berkshire and I think there’s a lot of value that can be created at Berkshire with better operations,” he told “The World According to Boyar” on Thursday.Ackman used the Burlington Northern Railroad, which is owned by Berkshire, as an example.While it may be the largest railroad, “it’s probably the least efficiently operated of all the railroads years ago,” Ackman claimed.When Abel takes the helm at Berkshire, he’ll likely use a hands-on approach to improve the firm’s businesses, Ackman said.“I think the next generation of leadership will be a little more disciplined about making sure the right people run the companies,” he added.Ackman, a former investor in Berkshire, also took aim at Buffett’s investment strategy, revealing that he tried in vain to get him to make a handful of lucrative investments in the past.Ackman – who made billions on hedges predicting the COVID-induced market crash – said he called Buffett in February 2020 to warn him about the pandemic.“He dismissed my concerns and when the proverbial sh-t hit the fan, I thought Buffett would be taking advantage of this amazing opportunity to buy stocks, and he was frozen,” Ackman said.Ackman also claimed he tried to broker a sale of Hilton Hotels to Berkshire, but Buffet passed. Investment...