market folly

We recently covered that Bill Ackman's hedge fund Pershing Square Capital Management had a new largest holding: Kraft (KFT). While Ackman gave us some insight as to his rationale for owning KFT in his recent interview, we now have a more detailed look into Pershing's bullishness. Ackman gave the presentation below last week at the Boys and Girls Harbor Investment Conference. (This morning, we posted up some other investment presentations from the event as well).

Pershing bought shares of KFT before its acquisition of Cadbury (CBY). They believe this is a solid acquisition at a fair price that "will be transformational." Kraft is the second largest food company in the world and Pershing thinks the addition of Cadbury will improve Kraft's business quality and organic growth. Not to mention, it has a nice 4% dividend yield. Embedded below is Bill Ackman's presentation on Kraft:




You can download the presentation via .pdf here.


For more investment insight and presentations from Bill Ackman's hedge fund Pershing Square, head to their analysis on General Growth Properties (GGWPQ), Bill Ackman's recent appearance on television, as well as all our previous coverage of Pershing.