Hedge fund titan Bill Ackman, the CEO of $US20 billion Pershing Square Capital, was the closer at the 20th annual Sohn Conference.
Ackman shared two investment picks, consumer products company Jarden Corp. and Canadian pharmaceutical company Valeant. He believes both companies are undervalued.
Last year, Ackman teamed up with Valeant to pursue a hostile takeover of Allergan. It didn’t work, but Ackman made a fortune from his stake in Allergan.
Back in March he snapped up a $US3.3 billion stake in Valeant. He thinks the company has room for more acquisitions.
Nearly 2,500 investors gathered at Lincoln Center in New York on Monday to hear some of the top fund managers share their ideas. The event raises money for pediatric cancer.