One year ago
»» One of Bill Ackman's savviest investments was
his short on the Municipal Bond Insurance Association.
Ackman fought against
the Triple-A-rated company for years.
Shorting MBIA was costly and led to years of losses as the
company's stock kept rising. Ackman also faced intense scrutiny
from investors and regulators, as detailed in
by Christine Richards. Yet Ackman had the last laugh. His
shorts on MBIA yielded profits of $1 billion after the crash in
Ackman is on a new conquest: How to achieve...