Ackman: Retail Is a Good Bet

NEW YORK CITY-William Ackman thinks retail is a good bet. The founder of hedge fund Pershing Square Capital Management is even big on Sears.

The investor bases his views, he says, on a retail economy that’s doing better than most people think. “We think store-closure fears were over blown,” he said at the International Council of Shopping Centers’ New York Conference.

Ackman is also big on retail REIT firms and said his outfit has acquired a sizable portion of bankrupt mall owner General Growth Properties. Both retail REITs and their tenants are greatly improving their debt situations, he said.