Pershing Square Capital

“Pershing Square Capital plans to sell its 4.4% stake in Universal Music Group, after the record label rejected a $63 billion takeover offer.”

“Pershing Square holds around 80.6 million shares in UMG, with the WSJ reporting that it's expected 'to reap at least $600 million in profits, including dividends on the nearly five-year investment.'”

“People always bring their eye to the new, new thing. And the new, new thing is sort of chips and semiconductors and energy. And that's where the shorter term capital is going.”