The time has come to start buying up
In an interview with Interactive Investor, Bill Ackman of Pershing Square Holdings shares his views on the market at the end of September 2022. As the headline indicates, his assessment is that it is once again a good time to start buying up.
However, he also says that it makes sense to “dollar cost average” into the market. So start by buying something now, and then increase in increments over the coming period. As Ackman says, over the next 6 or 12 months, no one can really know if we’ll see major declines. But looking 3, 5 or 10 years ahead, he has no doubt that now is a good time to increase your equity exposure. It’s hard to disagree.
“I think you can do very well as a stock market investor if you find really high quality companies and you buy them at attractive prices, and I think today is a pretty good time.
[…]
I think this is sort of another moment where, I don’t know how well you’re going to do over the next three or six months, 12 months, it’s a highly uncertain world, but over the next three, four, five, ten years it’s a pretty good place to be an investor, or time to commit more capital to equity markets.
Although I would… you gotta pick carefully. You want to own the super high quality, well capitalized, dominant businesses that you know will be here 30 years from now, and that’s why we own companies like Hilton and Universal Music and Restaurant Brands.”
– Bill Ackman
