{
  "id": 3567317,
  "title": "Bill Ackman Thinks This Factor Is Even More Important Than Valuation For Long-Term Investments",
  "url": "https://urgent.news/2026/08/26/bill-ackman-thinks-this-factor-is-even-more-important-than-valuation",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-26T18:26:00.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/investing/2026/08/26/bill-ackman-factor-more-important-valuation/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "Bill Ackman, the head of Pershing Square, believes that valuation is not the most crucial factor for long-term investments. In his recent letter to shareholders, he stated that while valuation should always be considered, strong and sustainable earnings-per-share growth holds even greater importance. Ackman's portfolio consists of stocks that currently trade at valuations that are around the S&P 500 average, or in some cases, much higher than the average. This approach aligns with the teachings of Ben Graham, the father of value investing, and Warren Buffett, Graham's most notable pupil.",
  "summary": "It's better to buy a wonderful business at a fair price than a fair business at a wonderful price.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}