Star hedge fund manager Bill Ackman's Pershing Square Holdings is down almost 20% in 2016 thanks to being on the wrong side of two big bets: Valeant Pharmaceuticals (VRX +2.1%) and Herbalife (HLF -0.3%). He is long Valeant, down 34% this year and short Herbalife, up over 4% ytd and up almost 33% since mid-February.
The patience of Mr. Ackman's investors is being profoundly challenged considering his fund lost 20.5% last year. It may be time for surrender, at least as far as Herbalife is concerned. On February 25, HLF rallied after posting strong Q4 sales and earnings. The bear seems to have vanished into the wilderness.
Previously: Herbalife soars after Q4 beat; company in talks with FTC (Feb. 25)
Previously: Ackman, Herbalife probes fizzle (Feb. 1)
Previously: Valeant craters on news of SEC investigation (Feb. 29)
Previously: Valeant expected to restate earnings; shares slump 10% after hours (Feb. 22)
Subscribe for full text news in your inbox