Lex Fridman Podcast
#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech
Bill Ackman
A stock is an interest in a business. It's like owning a piece of a company. And a business, a profitable one, is like a bond in that it generates these coupons or these earnings or cash flow every year. The difference with a stock and a bond is that the bond, it's a contract. You know what you're going to get as long as they don't go bankrupt in default.
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