New York (HedgeCo.net) – It is no secret that Bill Ackman and his hedge fund Pershing Square Capital are big investors in government sponsored enterprises Fannie Mae and Freddie Mac. Ackman has been touting the two stocks for a year and a half now with his first remarks on the two stocks coming at the annual meeting of Entrust Capital in February 2014.
In a conference call with investors on Monday, Ackman called out the Wall Street Journal for a negative article regarding the two stocks. According to an article from Business Insider,
“Ackman said that he loves the Wall Street Journal and that he reads it every day. However, he thinks that the “Heard On The Street” section has the “most factually inaccurate” and “frankly embarrassing” articles about Fannie Mae and Freddie Mac. He called the section’s coverage a “disaster.”
Since the beginning of February 2014, both stocks are down over 20%. The stocks initially spiked after Ackman announced he had purchased them, but since May 2014’s peak, the stocks are down almost 50% each.