Bill Ackman Suffers Another Blow

 

Bloomberg: In November, Ackman said his biggest regret was not buying more Valeant shares (Valeant was trading $70 to $90/share during November).
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M.Y.: Previous filing revealed Ackman had 16,591,122 million Valeant shares at an average price of $101/share, equivalent to ~$1.7 Billion. At today’s price of $33.54, Ackman’s investment is down to ~$500 million or having ~$1.1 billion* loss. (Own calculation)
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WSJ: Ackman, a year ago, stated in a Wall Street Journal interview:
“The structure of Pershing Square historically is one that is used by many hedge funds but it’s really much more similar to Berkshire Hathaway in terms of approach,” he said in a court deposition last year amid his battle with Botox-maker Allergan Inc.

“He’s been my professor,” Mr. Ackman told the Journal of Mr. Buffett.”

Sources
http://blogs.wsj.com/…/ackman-on-buffett-hes-been-my-profe…/
http://www.bloomberg.com/…/ackman-s-valeant-stake-delivers-…?

 

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