As a young child, did you ever dream of having $1 million in the bank?I used to think that way, but my perspective changed over the years. $1 million is no longer a guarantee of financial freedom. For someone spending $200,000 a year in good health, $1 million won’t go very far during retirement. For someone else who spends $40,000 annually and has Social Security income, saving less than $1 million may be appropriate……….
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…..