Billionaire investor William Ackman has managed to erase his entire 40% return of 2014….
Valeant Pharmaceuticals, which was Ackman‘s main loser in 2015, was also to blame for this year’s drop. Valeant’s stock declined 16% from Feb. 17 through Tuesday amid questions over its earnings, providing the final bit of fuel for Ackman‘s fund to burn through its gains.
Remember Bill Ackman’s 40% Hedge Fund Gain in 2014? It’s All Gone. [Reuters via Fortune]