![]() ![]() ![]() ![]() ![]() The rocky times Ackman was referring to lasted from 2015 through much of last year, as his fund saw its assets cut in half due to a $4 billion loss in Valeant, an ill-placed $1 billion short bet against Herbalife, and investor outflows. “It’s very helpful when you’re going through a difficult period to be in a great relationship” with someone who is “super-supportive, loving and warm and believes in you,” Ackman said Tuesday at the 13D Monitor Active-Passive Investor Summit in New York. Aside from lucrative investments in Chipotle and Starbucks, Ackman on Tuesday gave credit to his new wife, the MIT professor Neri Oxman. The big secret to Bill Ackman’s comeback: marital bliss.Īckman’s Pershing Square hedge fund is up nearly 40% this year. Pause in US development of AI would 'simply benefit China,' ex-Google boss warns Shares of Carl Icahn's hedge fund drop 25% after attack from rival Bill Ackmanīill Ackman reignites feud with nemesis Carl Icahn after scathing Hindenburg report "Importantly, our hedge had already paid off prior to my going on CNBC.JPMorgan CEO Jamie Dimon hints at future in politics, quickly gets endorsement from billionaire hedgie The billionaire defended himself in a statement to Pershing Square investors, writing that "By Wednesday, March 18th at 12:30 p.m., when I appeared on CNBC, we had already sold slightly more than half of the notional amount of our CDS, realizing a gain of more than $1.3 billion, with the unrealized portion of our hedge having a market value at that time of $1.3 billion for a total of $2.6 billion," Ackman wrote in a press release. Markets plunged so sharply that the market hit a so-called circuit breaker, halting trading for 15 minutes, Markets Insider reported. Ackman's comments sent the already volatile market down, prompting accusations from various news outlets and on social media that Ackman went on television with the intent of making his bet against the market more profitable, Forbes reported. The losses put the hedge fund into what Bloomberg called a "three-year losing streak" in 2019.Īckman made an appearance on CNBC on March 18, proclaiming that "hell is coming" because of the outbreak, after tweeting similar sentiments earlier in the day. Pershing Square also lost money on bets on now-defunct bookseller Border's Group and big-box retailer Target Corporation, according to Investopedia. Valeant has since been renamed Bausch Health. Ackman lost hundreds of millions of dollars on Herbalife, Business Insider reported.Īckman also made a controversial investment in near-bankrupt drugmaker Valeant Pharmaceuticals that resulted in a contentious Senate hearing over Valeant's practice of buying existing drugs and selling them at inflated prices in 2016, Business Insider reported at the time. Icahn and Ackman got into a public fight over the company's prospects that was called "the hedge fund equivalent of Stalingrad" by The Journal, with Icahn eventually emerging victorious. Ackman publicly accused Herbalife of being a pyramid scheme whose stock price was bound to hit zero, according to The Wall Street Journal. Ackman bet $1 billion that the company would fail, while fellow billionaire investor Carl Icahn made a long-term investment in the company, Business Insider previously reported. It often indicates a user profile.Īckman's 2012 short against multilevel marketing supplement maker Herbalife was one of the most high-profile missteps of his career, according to Investopedia. Account icon An icon in the shape of a person's head and shoulders. ![]()
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