"Baby Buffett" Bill went long on Valeant, a company so evil that it makes diet smoothie MLM Herbalife look like the Salvation Army, yet people here apparently still think he's a good guy because of his sympathetic portrayal in Betting on Zero. Ackman not only is not a good guy, he's also, like most hedge fund managers, completely incompetent:
> The losses in each of the past three years — of 4, 13.5 and 20.5 percent — come against gains in the S&P 500 of 19.4 and 9.5 plus a 0.7 percent dip, respectively. The Pershing losses took its net assets to $9.3 billion from $18.3 billion.
PSCM can't even consistently beat the S&P 500, and Ackman's already on his second fund after having blown up his first (Gotham Partners)--why on earth would anyone give this guy their money? Because he's handsome and a smooth-talker, I suppose.
> The losses in each of the past three years — of 4, 13.5 and 20.5 percent — come against gains in the S&P 500 of 19.4 and 9.5 plus a 0.7 percent dip, respectively. The Pershing losses took its net assets to $9.3 billion from $18.3 billion.
https://nypost.com/2018/01/10/ackmans-pershing-square-fund-t...
PSCM can't even consistently beat the S&P 500, and Ackman's already on his second fund after having blown up his first (Gotham Partners)--why on earth would anyone give this guy their money? Because he's handsome and a smooth-talker, I suppose.