Just Do It? This Billionaire Just Bought Nike Stock, Should You?

Why Bill Ackman may have been buying Nike stock.Billionaire Bill Ackman and his fund Pershing Square Capital were busy scooping up shares of Nike (NKE -0.70%) in the second quarter. The hedge fund manager runs a very concentrated long portfolio, holding only nine stocks as of the end of the second quarter. Let's look at what may have attracted Ackman to the stock.An iconic brandNike is an iconic brand whose swoosh logo is one of the most recognizable in the world. In the U.S., the company has about 97% aide ...