What would you do if you suddenly had $10,000 in cash at your disposal? Would you splurge for a trip to some far-flung corner of the world? Trade up for a nicer vehicle? Buy new furniture and a hot tub for your backyard deck? Those ideas might be the first that come to mind, but they may not be ones you will feel proud of ten or twenty years from now. Unless you have high interest debt you could pay off, your best bet with any “found money” is always going to be investing it for the long haul…..
Bill Ackman, the activist investor who took on Chipotle in 2016, revealed Tuesday afternoon that he has turned his attention to the biggest coffee chain in the world. Ackman’s hedge fund, Pershing Square Capital, has taken a roughly $900 million stake in Starbucks. Ackman unveiled the 15 million-share position—a roughly 1.1% stake—at Grant’s Interest Rate Observer conference in New York on Tuesday. His core investment thesis is that despite recent struggles in same-store sales and a less-than-stellar stock market performance…..