Bill Ackman Is Down 18.6% After First 5 Weeks Of 2016; Down 41% From August 2015

Courtesy mostly of Martin Shkreli, 2015 was a horrible year for Bill Ackman and yet, despite being down -20.5% last year (after being up 11% in early August when his NAV peaked at 29.27), his LPs largely stuck with the white-haired hedge funder.

In retrospect they surely regret that because according to the latest update by Pershing Square's website, as of February 9, just 5 weeks into the new year, Bill Ackman is already 18.6% in the hole at a NAV of17.07%, and down over 40% since the fund's recent peak in the last summer. Annualized, his 2016 performance comes up, or rather down to -193.4%

How long will the patient LPs watch their money burn, and how long until the "redemption letters on the sidelines" are finally faxed in? For the answer, watch if Ackman's stocks suddenly take a big swoon lower as what happened to Einhorn late in 2015, when various unknown "traders" tried to force Greenlight to liquidate, happens this time to Ackman.