The shareholders are 100% behind
@BillAckman fixing the persistent and huge discount to NAV in
$PSH his offshore closed end fund of his hedge fund.
@BillAckman has elevated the art of being in the public eye on twitter 24/7 to a level very few have reached.
Yes, other closed end funds trade at a persistent discount by their managers focusing on other things at the expense of their shareholders.
But, by placing focus on this massive discount to NAV and working to close the gap he has an opportunity to call a 90-Day timeout on mindless tweeting about anything that is NOT closing the huge discount, work on relationships that would help close the gap, and help make his PSH shareholders some money even in times of market stress.
What board of directors or shareholders would be comfortable when the manager is spending all of their time tweeting about something not in their control when they could be working on delivering shareholder returns, by tweet or by other means.
I don't know of one that would prefer the current situation.
When managers lose what seems like all of their focus to jump into politics investors start to question if they care, start to lose faith, and definitely don't tell their friends to buy shares as the reputational risk would be to large.
But since he gets fees it is ONLY the shareholders that really suffer. Presidents and social media/ev car company owners don't, only shareholders.
Running an investment company is a confidence and focus game. The head of PSH clearly spends way too much time tweeting about tariffs and not any time tweeting about closing the persistent and huge discount to NAV on liquid companies.
The investment manager has an opportunity right now, not just on Monday, to call a timeout on his current actions and take the time to execute on fixing this huge and persistent discount to NAV.
Alternatively he can keep tweeting about random stuff that he hopes someone cares about, all while losing any confidence in his ability to close the NAV discount, which would actually help him raise the $ to buy Howard Hughes as investors would gain some new confidence in his focus.
May cooler heads prevail.