Local Man Thinks You’ve Had Enough Fun With Valeant

He's about had it with the "witch hunt."
Author:
Updated:
Original:

Just about ready to get medieval on you jokers.

We’ve all had some laughs over the acquisitive Canadian pharma the last month, haven’t we? For some, that fun has involved forecasting its imminent collapse and immorality before basically having to retract the stuff about imminent collapse, at least. But enough with the games, says a guy who runs a hedge fund called Brave Warrior Advisors. This isn’t funny anymore; unless you think those kids in Salem were funny while that poor bastard got crushed to death by rocks. So how about we all calm down a little, take Valeant off the stake and put down the pitchforks for a while? Because Glenn Greenberg’s getting a little testy.

The media has “conducted a witch hunt,” the 68-year-old investor said in a telephone interview. “You don’t assume innocence, you assume guilt, sticking darts in the accused, in someone that breaks social norms, and this is a way of driving them out….” Echoing a point raised in Ackman’s conference call, Greenberg said Valeant executives such as Michael Pearson, its chief executive officer, are paying a price for a focus on keeping costs low and boosting profits.

“Mike Pearson believes in a lean shop and in getting results,” he said. “He believes in doing things rationally and efficiently. He thought, why do I need public relations or government relations -- I’m going to do stuff that’s smart, legal, and I want resources on generating earnings, not the usual horse sh*t that most of pharma does.”

Valeant ‘Witch Hunt’ Going Too Far for Brave Warrior’s Greenberg [Bloomberg]

Related

Congratulations, You've Really Hurt Valeant's Feelings

The much-reviled pharma company is feeling sad, and oh-so-lonely.

Prospects For ‘Valeant Of Solar’ Even Dimmer Than For O.G. Valeant

SunEdison is the one stock that even Bill Ackman can feel bad for right now.

By Mike Cauldwell (https://www.casascius.com/photos.aspx) [Public domain], via Wikimedia Commons

Steve Cohen Not Crypto Enough For Local Luddite

Travis Kling might not understand bitcoins, but he’s sure they’ll be worth more than everything else in the world combined some day.

Bill Ackman Doesn't Think Valeant's Awesomeness Has Been Adequately Conveyed

There's simply no other way to explain what's happening there.

Third Point LLC

Local Man Good At Job

Forbes has come to sing the praises of the great Daniel Seth Loeb.