Lex Fridman Podcast
#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech
Bill Ackman
The value of a security is the present value of the cash you can take out of it over its life. So if you think about a bond, a bond pays a 5% coupon interest rate. You get that, let's say, every year or twice a year, split in half. And it's very predictable. And if it's a U.S. government bond, you know you're going to get it. So that's a pretty easy thing to value.
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