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Ackman confident portfolio can keep delivering strong returns -letter

Credit: REUTERS/Brendan McDermid

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 stock to help boost gains.

BOSTON, Aug 15 (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 BRKa.N 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.

(Reporting by Svea Herbst-Bayliss; Editing by Lisa Shumaker)

((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters Messaging: svea.herbst.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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