Why Bill Ackman doesn't buy tech companies

Hedge fund titan Bill Ackman, the CEO of Pershing Square Capital, explained why he doesn’t invest in tech companies on a panel at the CNBC Delivering Alpha Conference.

“We like businesses that will withstand the test of time,” Ackman said, adding that tech companies are “too dynamic.”

The 49-year-old investor is known for typically being a long-only activist investor, taking large positions in a handful of large “undermanaged” companies and advocating management for changes.

Pershing’s portfolio includes positions in Valeant, Actavis, Zoetis, Restaurant Brands (Burger King), and Canadian Pacific, just to mention a few. In the past, he’s invested in retail stocks as well as restaurant stocks.

NOW WATCH: These are the side effects of sleeping on your back, side, and stomach

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.