Bill Ackman: recommendation

Transcript context

…Nice. He was supposed to be a mini, but he’s not so as mini. But I got him at six weeks old and he would keep me company. And I started meditating actually. And a friend recommended TM. And I would meditate 20 minutes in the morning, 20 minutes in the evening. And I also a big believer in exercise and weightlifting and I play tennis. And I had been… This is not my first proximity to disaster. I had another moment in my career, like 2002, and I learned this method for dealing with these kind of moments, which is you just make a little progress every day. So today, I’m going to wake up, I’m going to make progress. I’ll make progress in the litigation, I’ll make progress in the portfolio. I’ll make progress with my life. And progress compounds a bit like money compounds. You don’t see a lot of progress in the first few weeks, but 30 days in like, oh, okay. You can’t look up at the mountaintop where you used to be because then you’ll give up. But you just, okay, just make step by step by step. And then 90 days in you’re like, okay, I was way down there. Okay, the mountain. Okay, I don’t look up. Just keep making progress, progress, progress and progress really does compound. And one day you wake up and like, wow, it’s amazing how far I’ve come. And if you look at a chart of Pershing Square, our company, you can see the absolute bottom. You can see where we were, you can see the drop and you can see where we are now. And that huge drop that felt like a complete unbelievable disaster looks like a little bump on the curve. And it really gives you perspective on these things. You just have to power through. And I think the key is, I’ve always been fortunate from a mental health point of view and nutrition, sleep, exercise, and a little progress every day. That’s it. And good friends and family. I had go take a walk with a friend every night and a sister who loves me and parents who were supportive, but they were all worried about their son, their brother. It was a moment. And also, by the way, the other thing to think about is when you recover from something like this, you really appreciate it. And also as much of the media loves when some successful person falls, they love writing the story of success, they love even more the story of failure. But when you recover from that, it’s kind of like the American story. America, you think of the great entrepreneurs and how many failures they had before they succeeded. How many rocket launches did SpaceX have explode on the pad? And then you look at success. I mean, that’s why Musk is so admired. You mentioned Herbalife. Can you take me through the saga of that? It’s historic.…

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