Sometimes in life, it's difficult to get perspective about something, be it a bad marriage or a career choice, when we're too close to the situation. Taking a step back to say, "Is this really working for me?" can reveal the answer to the question "Can I continue doing this despite what it's doing to me?"
The hedge fund mogul’s Pershing Square has been scorched by bad news this summer — news that pumped up his short plays and pushed down his long positions. Since Memorial Day, shares of the publicly traded Pershing Square Holdings, which mimic his funds’ investments, are down 13.6 percent as of Friday’s close. Over the same span, the S&P 500 gained 4 percent. For the year through July 31, Pershing shares are down 17.8 percent, while the hedge fund industry in general is in recovery mode. The average hedge fund is up 3.67 percent through July, according to Preqin data. For Ackman, the trouble is mostly Canadian drugmaker Valeant Pharmaceuticals and nutritional supplement company Herbalife.