Bill Ackman invests $900 million in Starbucks

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Ackman said he is encouraged by CEO Kevin Johnsons recent actions, including closing Teavana stores . Pershing holds stakes in other food companies, including Chipotle ( CMG ) and Restaurant Brands International ( QSR ), which owns Tim Hortons, Burger King and Popeyes. Ackman has enjoyed plenty of success in his career, including betting against mortgage-backed securities ahead of the 2008 financial crisis. The hedge fund manager called the nutritional supplements company a pyramid scheme that he thought would eventually go to zero. Investors bailed out of Valeant following an accounting scandal and increased regulatory scrutiny after it hiked drug prices.

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