Pershing Square's Bill Ackman Talks IPO, State of Markets | Bloomberg Deals 4/29/2026
Speakers
Bill Ackman
— CEO, Pershing Square Capital (Quoted via X/Twitter)
Summary
Bill Ackman discusses Pershing Square's dual U.S. IPO, expressing bullishness on high-quality large-cap stocks and detailing the long-term compounding thesis for PSUS. Other segments cover travel demand amid rising fuel prices, M&A trends in airlines and hotels, and AstraZeneca's earnings and pipeline catalysts.
- Pershing Square raises $5B in a dual U.S. IPO (PSUS) at book value.
- Ackman says high-quality large-cap stocks are cheap after a recent bottom.
- Ackman outlines PSUS's tax-efficient structure and 22-year 19% ROE record.
- Travel sector shows mixed demand; JetBlue passes on fuel costs, Hilton reports growth.
- Panelists highlight asset-light leisure and luxury brand opportunities.
- AstraZeneca beats profit expectations and reaffirms $80B 2030 ambition.
- AstraZeneca CFO notes strong pipeline and financial capacity for deals.
- Oil prices rise on Iran Strait standoff; market awaits Fed chair confirmation.
Trade Ideas
High-quality large-cap stocks are cheap.
High-quality large-cap U.S. stocks are cheap after a recent bottom, trading at historically low multiples. The economy is supported by AI and energy spending, a tax bill driving investment, a business-friendly administration, and a Fed likely to cut rates once the Iran Strait situation is resolved in the short term. This creates a favorable environment for long-term investing in these stocks.
PSUS at book value with high ROE.
Pershing Square's U.S.-listed entity (PSUS) is being taken public at book value, despite the business earning a 19% return on equity for the last 22 years. The structure is tax-efficient, low-cost, and allows long-term compounding, making it a cheap price for a high-quality, permanent capital vehicle that should trade at a premium over time.
Up Next
This Bloomberg Markets video, published April 29, 2026, features Bill Ackman discussing U.S. high-quality large-cap stocks, PSUS. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Bill Ackman · Tickers: U.S. high-quality large-cap stocks, PSUS