Pershing Square

Bill Ackman: "I’m Only Second To Donald Trump In Terms Of Clicks On The Internet"

"If this gets into a public battle, it’s going to be bad for you personally, it’s going to be bad for the company, but I’m fine with it because — and he said this — I’m told that I’m only second to Donald Trump in terms of number of clicks on the internet, and hence you will lose if there’s a public relations battle."

Frontrunning: August 21

  • Trump to present vision for U.S. strategy in Afghanistan war (Reuters)
  • Trump Struggles to Move Past Bannon, Starting With Afghanistan (BBG)
  • Final Plans Under Way as Solar Eclipse Nears (WSJ)
  • Yellen, Draghi Head to Jackson Hole Amid Inflation Unease (BBG)
  • Cohn Solidifies Lead in Race to Replace Yellen, Economists Say (BBG)

Eclipse Day Begins With S&P Futures Flat While Industrial Metals Soar

S&P500 futures, as well as Asian and European stocks, started off the week off unchanged after the S&P cash index fell to its lowest level in five weeks on Friday, with the "Bannon rally" fading on growing concerns about the US political situation, while tensions ratcheted up again as the US and South Korea began massive military drills

These Are The Top 50 Hedge Fund Long And Short Positions

In an unexpected turnaround, for once hedge funds aren't sucking (if still underperforming both the S&P and the average mutual fund): for those who believe in piggybacking, here are the Top 50 most popular longs and shorts within the HF community.

Frontrunning: August 8

  • Tax Overhaul Effort Shaped by Debate Over Corporations (WSJ)
  • Funds target 'unknown' stocks as Wall Street cuts analyst jobs (Reuters)
  • GOP Plans Tax Compromise to Sidestep Democrats (BBG)
  • Few expect Trump's 15-percent corporate tax rate: Deloitte survey (Reuters)
  • Raid on Venezuelan Base Got Help From Active Officers (WSJ)
  • Hackers demand million in ransom for stolen HBO data (AP)

15% Of Greenlight Capital Investors Submit Redemption Requests

David Einhorn's Greenlight Capital was slammed with redemptions on June 30, and has been forced to pay back more than $400 million in clients withdrawals at midyear, as more than 15% of eligible investors chose to redeem their money.

Bill Ackman's Full Howard Hughes Presentation

In light of Ackman's recent investing track record, there has been some debate what is more surprising: that Ackman is again unable to come up with an original investment, or that the stock actually jumped, rising as much as 4.8% on the Ackman reco.

Ackman Capitulates: Sells Entire Valeant Stake; Stock Tumbles

Valeant shares plunged after the close after CNBC's David Faber first reported that Pershing Square's Bill Ackman had liquidated his entire stake, and has effectively resigned from the board, saying he won't stand for re-election. According to Bloomberg, Pershing Square is offering 27.23 million shares via Jefferies, at a price of $11.10-$11.40.