How to invest like a billionaire

This is article posted last year but worth reading.

Bill Ackman, who runs the hedge fund Pershing Square, had the best year among the “big guys.” His portfolio gained nearly 47% this year, according to an analysis by iBillionaire.

His ace bet this year was on health care company Allergan (AGN), the maker of Botox. It turned out to be one of the best performing stocks of 2014 after two rival drugmakers got in a bidding war to take it over.

Ackman is a high conviction manager who likes to put a lot of money into a few stocks. It paid off this year thanks to Allergan and Canadian Pacific (CP), his second-largest position, which soared 27%.

continue reading at CNN Money.