Hedge fund star Bill Ackman recently sold about three-quarters of a billion dollars worth of Citigroup from his Pershing Square Capital Management fund. Was he right? Fool.com senior analyst Anand Chokkavelu points out that managers often buy and sell for different reasons than the individual investor does. For instance, Ackman sold the Citigroup stock partially because he needed to free up funds to place a $2 billion investment into Procter & Gamble. He's still bullish on Citigroup, but he thinks there are less risky ways to make money. Procter & Gamble would certainly qualify as less risky. Anand doesn't believe Ackman's Citigroup move should influence bulls or bears much. For more, see the following video.
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