To be fair they only really had an hour and quarterly calls have followed the format where they provide detailed updates on each of their holdings. They spent too much time on the first four.

The things you mention will probably be discussed in the annual report and meeting next year.

Surprised how bullish they are on Brookfield even from current share price, but its all good they know more about Brookfield Corp than me. Will continue to hold my individual position in it.

Think they see Nike as a quality company going through a troublesome time and will come good.

Generally I'm happy to leave it to them, they have a focused investment team and a concentrated portfolio/more time spent per holding and can influence some of the companies through engagement.

I learnt decades ago that their was no benifit from listening/meeting FMs as they only talk about past facts and tell stories about the future..

I did however trust them 100% to manage my money. ie they had completed full DD and all I had to decide was are the Trusts they manage under or overvalued.

Again listing 100s of facts re inflation/interest rates and micro/mini economics I left fully with the Managers as I couldn't added any value and if anything it had a negative effect..

Using a method with no emotion tended to provide outperformance as emotion draws you into the herd instinct which causes many of the wide swings in 12 month high/lows.

My Managers Reports contained manly the past facts and no forecasts as the later is guesswork/speculation.

I appreciate your frustration that no one responded.

I also suffer as many on here think I am nuts but they dont realise that I cracked it many years ago.

Unusually for oak bloke he is a buyer of Pershing Square. He is more of small cap man.
Normal exuberance. Not buyer myself at the moment.
It is the type of portfolio I like as in concentrated. Best of your best ideas. Add to that he holds enough shares in each company to know exactly what's going on .

https://theoakbloke.subs...rue&utm_medium=email

This gives a detailed take on PSH
https://theoakbloke.subs...teecuff-the-2nd-ob-2025

I contacted Tony at Investor Relations about the call and lack of transparency
His response.....
"For regulatory reasons we are unable to address any questions specific to Pershing Square Holdings, Ltd. on our May and November conference calls.  For that reason, we are only able to cover topics related to the portfolio not topics specific to the structure of PSH such as discount and listing.  However, we are able to address these issues at the February PSH Annual Investor Meeting, in the PSH Annual Report (published in March) and in the PSH Interim Financial Statements (published in August)."
He got back to me very quickly and he seems very amenable to communication.