Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Bill Ackman’s hedge fund had a brutal month

BILL ACKMAN screen shot

Bill Ackman’s Pershing Square Capital, got pounded in September. The hedge fund was the best-performing last year, returning 40.4%.

Last month the fund’s publicly traded vehicle, fell 12.5% for the first nine months of the year, according to a performance update.

Ackman was dragged down by the fund’s large stake in Valeant Pharmaceuticals. Pershing Square bought earlier this year 19, 473, 933 Valeant shares, or an approximately 5.7% stake and become the third-largest shareholder.

Things have changed as shares of Valeant fell by more than 22% after the Democrats on the House Oversight and Government Reform Committee sent a letter to the committee’s chairman, Jason Chaffetz.

They asking him to subpoena the Canadian pharmaceutical company for documents related to price increases of acquired drugs.

Read the full story at Business Insider, by Julia La Roche

 

READ MORE

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.