Bill Ackman Is Directing Up to $3 Billion Into Howard Hughes’ Insurance Arm, Vantage, as Part of His Plan to Build a Modern Berkshire Hathaway. Is HHH Stock the Way to Play His Buffett Ambitions?
Ever since Warren Buffett built Berkshire Hathaway around ownership of insurance companies, many have attempted to copy his approach. Unlike traditional insurance stocks, which seek to profit by investing insurance premiums in fixed-income instruments such as bonds, Buffett’s approach entails investing float in stocks to generate superior long-term returns.
Investor Bill Ackman, through Howard Hughes Holdings (NYSE: HHH), or HHH for short, is the latest Wall Street titan to try to emulate this strategy. Not only that, but Ackman appears to be aiming to mimic the approach of another famed investment holding company.
Pershing Square Capital Management CEO Bill Ackman. Image source: Getty Images.
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