Bill Ackman's 'Concentrated Conviction' Turned $10K Into $460K— He Says 'Long Term' Investors Always Win

As billionaire investor Bill Ackman launches his new retail-friendly closed-end fund, Pershing Square USA, he is making a bold case against standard index investing: deep research into a handful of exceptional companies vastly outpaces the broader market. The Math Behind The Outperformance For retail investors wondering why they shouldn’t just park their cash in an S&P 500 index fund, Ackman points directly to his two-decade track record. “In January of 2004… you invested $10,000… at the end of