From BusinessInsider: Bill Ackman has made a habit of making big calls on companies he's investing in, like JCPenney and General Growth. Today at CNBC's Delivering Alpha conference he revealed his latest: he's long Hong Kong dollar. It's a currency trade.
Seeing as his hedge fund Pershing Square's strategy is activist, meaning he usually invests in equities, and this is a FX trade, that's probably what he was talking about. He's going macro.
He's betting that Hong Kong will let its currency appreciate and will stop pegging to the US dollar by 2015...
Read more at http://www.businessinsider.com/bill-ackman-hong-kong-dollar-2011-9
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