In investing, as in other aspects of life, it makes sense to take lessons from those who have been successful. One such person is Bill Ackman, the founder and CEO of Pershing Square Capital Management, a hedge fund that has produced excellent returns over the past couple of decades. During the second quarter, Ackman and his investing team made a move that probably took some investors by surprise: They closed their position in Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL), a tech leader that seems to be firing on all cylinders. What's more, Ackman bought more shares of Meta Platforms (NASDAQ:META), while initiating a position in Netflix (NASDAQ:NFLX), both of which have significantly lagged broader equities over the trailing-12-month period.
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