Graduated Harvard College in 1988.
Received MBA from Harvard Business School in 1992.
Starts Gotham Partners in 1992.
After winding down Gotham Partners in 1992, opens Pershing Square Capital.
But does anyone know what he did from 1988-1992? Try to gauge what type of experience/knowledge he attained that enabled him to start a successful L/S HF.
He worked for his dad, apparently.
Yup, commercial real estate brokerage IIRC.
Isn't it more likely that his success with Gotham Partners was more a function of pedigree, network, talent, timing, and a bit of luck than the 4 years between ugrad and MBA?
May be but the questions still valid, because you see that gap for a lot of the big guys. Undergrad in x MBA in y. Ok? And what did you do in between if I may ask?
Hmm...
If that's the case I'll be glad that I went to a non-target school and my dad works in a factory if/when I launch
Like most guys who start hedge funds in their 20s, the key talent that he possessed that enabled him to start and grow a successful l/s hedge fund was a very rich and well connected father.
Don't be playa hatin' now
to be fair here, I know a handful of guys who raised PE or hedge funds as well (in the last 2-3 years), and what they all had in common was a similarly wealthy family background and strong network (family/themselves). So, he's not that far off I guess.
Lol, truly admirable
Started out with 7 investors that included Michael Porter, Martin Peretz, and the Ziffs
http://therealdeal.com/2015/10/30/larry-ackman-sol-goldman-gave-me-my-f…
Ackman told a story about how he got his start in the business in 1962, when, as a freshly-minted graduate of Harvard Business School, he went to work at his father’s business Ackman and Companies.
“There’s no such thing as inheriting customers in a services business,” he said. “So for the first three or four years I did nothing but cold-call solicitation, going from office to office on what I called my milk route.” -Bill Ackman
Fixed that for you. Regardless, still a pretty interesting story.
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