Bill Ackman

Hedge fund manager Bill Ackman said prison operator Corrections Corp. was one of the best real-estate businesses around. The government is a major customer and there is strong demand for prison space and limited supply, Ackman explained. “It’s also a hedge against your hedge fund business, because as the SEC ramps up…”... Ackman said, prompting laughter at the conference. “We shouldn’t joke about that,” he added.