Today (April 14th, 2015) Paul Hilal from Pershing Square came to speak during the “Value Investing with Legends Class.” In his introduction of Paul, Professor Big G (Bruce Greenwald) said this, “The public face of Paul Hilal’s fund is Bill Ackman, the talent to a large extent is standing in front of you.”

Paul certainly lived up to the “generous” introduction. He gave a very meaty lecture, full of insights, important life lessons, juicy and entertaining details of Pershing’s activist campaign against Canadian Pacific Railway in 2012. Paul came across as personable, candid, and grounded. But underneath all these qualities, it was clear that he would not hesitate to turn ruthless (I think all successful business people have this quality more or less) when it comes to sticking to his principles/beliefs and driving value from his investment ideas. Many of the lessons he conveyed are not just about investing, but more importantly about life, about being a principled person, and about life in business. There are lessons to be drawn whether you are an investor, a consultant, a general manager, or a banker. It is learnings like this that makes me feel lucky to be at Columbia Business School. Continue reading “Value Investing – Paul Hilal’s (Pershing Square) Lecture at Columbia Business School” →