Bill Ackman Reveals The Worst Investment He's Made

Bill Ackman

Photo: CNBC

Pershing Square founder and famed activist investor Bill Ackman was on CNBC this morning, discussing his various investments and the state of economy.At the beginning of the discussion, Andrew Ross Sorkin remarked that Ackman used to be the owner of now-bankrupt book seller Borders to preface a question about the Justice Department’s investigation into e-book prices.

Ackman owned up to a 40% stake in Borders before it filed for bankruptcy, and has since shed the shares.

Sorkin commented that it was “not the best investment, admittedly.”

To which Ackman replied dryly—”In fact, the worst I’ve made. So thanks for reminding me.”

In regard to the e-book discussion, Ackman said he thought it was interesting that the Justice Department was going after Apple in its investigation, as the company’s existence prevents internet giant and book retailer Amazon from dominating the market.

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