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Linked to Win - September 14, 2011

Linked to Win - September 14, 2011

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Published by: zarathustra6058 on Sep 15, 2011
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Linked to Win
September 14, 2011 
Pershing Square Capital Management, L.P.
The analyses and conclusions of Pershing Square Capital Management, L.P. ("Pershing Square") contained inthis presentation are based on publicly available information.Pershing Square recognizes that there may beconfidential information in the possession of instruments of state, governments and other interested partiesdiscussed in the presentation that could lead those constituents and other market participants to disagreewith Pershing Square’s conclusions. This presentation and the information contained herein is not investmentadvice or a recommendation or solicitation to buy or sell any securities, currencies or other investmentinstruments. All investments involve risk, including the loss of principal.The analyses provided may include certain statements, estimates and projections prepared with respect to,among other things, historical and anticipated events, access to and changes in capital markets and thevalues of currencies, assets and liabilities.Such statements, estimates, and projections reflect variousassumptions by Pershing Square concerning anticipated results that are inherently subject to significantpolitical, regulatory, economic, competitive, and other uncertainties and contingencies and have beenincluded solely for illustrative purposes.No representations or warranties, express or implied, are made as tothe accuracy or completeness of such statements, estimates or projections or with respect to any othermaterials herein and Pershing Square disclaims any liability with respect thereto.Actual results may varymaterially from the estimates and projected results contained herein.Funds managed by Pershing Square and its affiliates own U.S. dollars, Hong Kong dollars and options on theHong Kong dollar.Pershing Square manages funds that are in the business of trading -buying and selling –securities and other financial instruments.It is likely that there will be developments in the future that causePershing Square to change its position regarding such investments.Pershing Square may buy, sell, cover orotherwise change the form of these investments for any or no reason.Pershing Square hereby disclaims anyduty to any recipient hereof or to provide any updates or changes to the analyses contained here including,without limitation, the manner or type of any Pershing Square investment.
Structure of the Presentation
I.The ContextII.The HistoryIII.The Current State of PlayIV.Our Prediction of What is Likely to HappenV.The Investment OpportunityVI.Why Now?

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