Bill Ackman's Got Good News And Less Good News

Which do you want to hear first?

The good or at least somewhat interesting news: Pershing Square set a new record in 2015. The less good news: it was for annual losses.

Pershing Square Holdings finished the year with a 20.5 percent loss — the worst in its 11-year history — as some of its biggest public stock holdings were beaten down. Pershing Square became a top shareholder in the embattled Valeant Pharmaceuticals, but by the end of the year, the company’s shares had fallen 61 percent from a peak they reached over the summer. (Valeant shares bounced back significantly from the lows it hit in November.)

William Ackman Fund Ends 2015 With a 20.5% Loss [Dealbook]