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Hedge Fund Titan’s Surefire Bet Turns Into a $4 Billion Loss
Keywords: Ackman, Hedge Funds,
This NYT article describes the disastrous investment in Valeant Pharmaceuticals by hedge fund manager William Ackman. The hyped up investment was portrayed as resembling Berkshire in its early days, but ended badly. So badly that Valeant stock price went from $262 to $11. This is a blow to the personality cult in hedge funds where focus is on a few personalities and their investing approaches taking huge risks. Ackman's approach was to take large stakes so he could influence the management. In this situation of Valeant there was a breakdown in the due diligence analysis of the company say experts, and a troubling aspect was that the hype about the company was not toned down early.
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Hedge Fund Titan’s Surefire Bet Turns Into a $4 Billion Loss
The New York Times 03/19/2017
Hedge fund manager Ackman and the disastrous investment in Valeant Pharmaceuticals leading to $4 billion loss by 2017
03/20/2017
This is a blow to the personality focus in hedge fund investing and a failure in doing due diligence and analysis, say experts.
Grouped Articles
Hedge Fund Titan’s Surefire Bet Turns Into a $4 Billion Loss
The New York Times 03/19/2017
Andy Kessler on hedge fund strategies in the past and the futile efforts in 2013-2014
08/27/2013
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Hedge Funders Are All a Little Nuts
Wall Street Journal 08/27/2013
Hedge Funds' Investing Prowess Doesn't Live Up to Billing
Wall Street Journal 05/27/2014
Citadel’s Ken Griffin Leaves 2008 Tumble Far Behind
Wall Street Journal 08/04/2015
The Year the Hedge-Fund Model Stalled on Main Street
Wall Street Journal 12/31/2015
Hedge Fund Titan’s Surefire Bet Turns Into a $4 Billion Loss
The New York Times 03/19/2017
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