Topics:
Bill Ackman who has been a big pumper of Valeant is now losing big.
According to Reuters:
Hedge fund billionaire Bill Ackman, founder of $13 billion Pershing Square Capital, is having another devastating year.
Pershing Square Holdings, his fund's publicly traded vehicle, has fallen 19.9% through the end of February, according to a performance update.
Ackman, a well-known activist investor, makes large, concentrated bets in a handful of companies. This year, the majority of his long positions have collapsed, while his only short bet has surged.
His returns in February were largely dragged down by Valeant Pharmaceuticals' massive decline and Herbalife's big spike on Friday.
Full story here.