The global economy is much better now than a year ago,says Bill Ackman,Founder and Managing Principal of Pershing Square Capital Management.We're starting to see business confidence return.
We're not that worried about states defaulting;more so about municipalities.
I'm not a big fan of the government stepping in and buying bonds and so on.I think markets are self-healing.I think it's time for us to stand on our own two feet,and I think that will help the healing process,Mr.Ackman observed.
Pershing Square Capital Management,L.P. is a hedge fund management firm.Located in New York City,its funds include Pershing Square,L.P.
Hedge funds are investment instruments for affluent individuals and institutions.Many of these funds folded during the financial crisis,suffering massive losses rather than delivering the intended high rate of return.
Both presidential daughter Chelsea Clinton and her husband,Marc Mezvinsky,have worked in the hedge fund industry.
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