Ackman confident portfolio can keep delivering strong returns: letter

BOSTON (Reuters) – Billionaire investor William Ackman, whose portfolio has gained almost 50% this year, said his fund can keep delivering “high, long-term” returns and that he expects Berkshire Hathaway Inc (N:BRKa) stock to help boost gains.

“We believe that Berkshire’s share price is likely to increase substantially over the coming years,” Ackman wrote in a letter to clients one day after announcing in a filing that he had bought roughly $700 million worth of Berkshire stock.

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