Bill Ackman's big hedge fund conference is tomorrow - here's how last year's stock picks did
REUTERS/Eduardo Munoz William Ackman, founder and CEO of hedge fund Pershing Square Capital ManagementHedge fund manager Bill Ackman, who was a top performer in 2014, is putting on a hedge fund conference on Thursday
On February 12, Ackman, the CEO of $18 billion Pershing Square Capital Management, and Mark Axelowitz, managing director from UBS Private Wealth Management, will co-host the 2015 Harbor Investment Conference at the AXA Equitable Building in Midtown Manhattan.
The annual event brings together investors to share trade ideas, while raising money for the Boys & Girl's Harbor.
We've heard that Ackman isn't presenting an investment pick, but that he will do a big Q&A at the end of the event. In addition to Ackman, some of the big-name speakers this year include Larry Robbins (Glenview Capital) and Ray Dalio (Bridgewater Associates). Ackman will be interviewing Dalio, we're told.
Business Insider will be there covering the event.
Below is a review how last year's investment picks did. Let's say these nine stock picks make up a portfolio. If we take the stocks and have them all equally weighted, the performance of this portfolio would be approximately 25.40%, according to our calculations. For comparison, the S&P is up 15.41% in the same time period.
Ackman, 48, had a monster year in 2014, netting 40.4% for the year, according to the performance report for the fund.
Overall, 2014 was an incredibly underwhelming year for hedge funds. According to research firm Preqin, hedge funds on average returned just 3.78%, the lowest annual return since their 1.85% loss in 2011.