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Pershing Square is down 15.9% for the year
Looks like Ackman picked the wrong week to start doubling down on Valeant.
“Pershing Square Holdings, the publicly traded fund run by hedge fund billionaire Bill Ackman, is having a brutal year.
The fund is down 15.9% through October 27, according to a performance update. The fund had been down 11.2% a week ago.
The fund's performance was primarily dragged down by its largest equity holding, Valeant Pharmaceuticals.”
Pershing Square was up as high as 11% in August, and as Business Insider points out, it was one of the best-performing hedge funds in 2014 with a return of 40.4%.
Photo: marc falardeau