Looking back at Ackman’s muni obsession and Arpad Busson’s charitable chops

June 28, 2011   Suzy Kenly Waite

This week, AR also revisits Kingdon’s decision to offer investors friendlier terms.

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 Confidence Game by Christine Richards. Yet Ackman had the last laugh. His shorts on MBIA yielded profits of $1 billion after the crash in 2008.

Ackman is on a new conquest: How to achieve...

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