Bill Ackman's Pershing Square Down 11.4% In First 12 Days Of 2016
2015 was not kind to Bill Ackman, who after being up as much as 11% though early August, saw all his paper profits vanish and then some, closing the year down 20.5%, his worst year since 2008.
Alas, 2016 is not starting any better, and this time the billionaire investor can no longer blame an "out of left field" plunge in Valeant (a name in which he dumped 5 million shares in the last week of 2015 for "tax purposes"): this time it is everything, and the bottom line is that in the first 12 calendar days of 2016, Pershing Square is down a whopping -11.4%. Actually, just make that -14% after today's rout.
This means that about a third of the value/AUM of Pershing Square has been wiped out since August 4.
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Poor hedge fund managers and their poor clients. It's so sad seeing the uber wealthy lose a little of their money. Poor babies.
Damn I really wish you could embed images without being a contributor.
Anyway, I immediately thought of this when I read the article:
http://2.bp.blogspot.com/-CFqT9xESnhs/T5qzQ85pCWI/AAAAAAAABII/31r4nNA9Wl...
Wellll I don't know, I think it's what they deserve.....
Oh, you're being sarcastical.
What's even more sad is that everyone is so worked up over the loss of this funny money. That everyone worshiped it in the first place.
Forget the uber wealthy how about the moronic pension funds that give this douche $500MM and pay 2/20 for this performance. All these cops/teachers etc who r expecting a nice pension based upon 8% annual returns may have some letters in mail. Whole system rotten to the core.
"Poor hedge fund managers and their poor clients. It's so sad seeing the uber wealthy lose a little of their money. Poor babies"
Yes, but someone taking the opposite side of his losing bets is up 11.4% for the year! /snarky
He'll need to take some more Herbalife in the morning.
That's pretty good. In all fairness, Bill is usually straight forward with the public, and brilliant with the numbers. Never understood the passion he went after herb, but whatever. He's got an ace up his sleeve in Fannie, the court cases look very positive, that could change his return % fast.
Dude rides a girl's bike.
Taken for daily rent@$1 from neighbourhood kiddo
They're saving room for you in the cell next to Martin Shkreli, Bill. Good luck splaining this to your shareholders.
LOL u think these big shot tribe scum will go to jail? Simply pay the gubmint a huge fine ala little Stevie Cohen and all troubles go away. Guy who ran small firm in Chicago, Eric Bloom,(Sentinel ) got 14 years for doing EXACTLY the same thing as Corzine but Jon will continue living large thanks to our pathetic justice system.
Calling Mr. Yellen, we need to have you make a presentation at some po-dunk economic conference or college campus so you can get this market up so we can liquidate some of our holdings. Can you do it this week? Please hurry, it hurts to sit down. May have to sell yacht if this keeps up.
"Calling Mr. Yellen, we need to have you make a presentation at some po-dunk economic conference or college campus so you can get this market up so we can liquidate some of our holdings. Can you do it this week?"
Sorry, but unfortunately Ms Yellen is too busy helping push Larry Finke's party bus over by Blackrock cliff.
Could get much worse if he's sued over his Valeant position just like Sequoia. Seems like his doubling down would be grounds for gross abuse. He does zero risk management, it's unbelievable investors don't run for the door.
http://blogs.barrons.com/focusonfunds/2016/01/11/shareholders-sue-sequoi...
keep pedaling quickly and quietly, there's a shower ahead, and then a deep sleep
There's a pretty nasty 'bear flag' on short term charts, across the entire equity complex, so I wouldn't be surprised to see all those 10 year[70+% indirect] CUSIP bond buyers from earlier, loading up on some equities going into an 3-day weekend.
so you're saying the PPT will come to the rescue after James Earl Ray Day..?
Fuck Bill Ackman and fuck his 'luck' which is overdue to run out.
"Pershing Square is down a whopping -11.4%. Actually, just make that -14% after today's rout."
My first thought was, "annualize that!" It's gonna be a tough year....
When does the genius investor start genius investing?
"When does the genius investor start genius investing?"
Should be easy enough to find out. How much skin does he have in the game? If he has little or none of his own money invested in the fund he runs - then he has already shown his genius.