Skip to main content

Bill Ackman’s 2017 Off To The So-So Start He Was Looking For

The Ack Man ain't hating on The New Year... yet.
  • Author:
  • Updated:

His happy place.

Few hedge funds, if any, were as happy to see 2016 as than Pershing Square Asset Management and itsfounder Bill Ackman. It was, to employ the rather apropos word of the year, a dumpster fire 12 months, quite literally a year in which even things going right went terribly, terribly wrong, like when the FTC said Ackman was 99.99999999% right about Herbalife but its stock, which Ackman has a $1 billion short bet saying it will go to zero, went up. Some years are like that: They can’t help kicking you when you’re down, with a Thanksgiving divorce, perhaps, or having a tax loss be the best thing that happens to you.

But 2017 is a new year, and Bill is psyched to be a part of the wild psychotic experiment that Trumponomics promises to be. And he’s looking for any sign—even the most ambivalent, mixed-bag sign—that 2017 will be different. And he’s already go two mediocrepieces of news to keep that hope alive.

Valeant Pharmaceuticals International Inc. agreed to sell three skin-care brands including CeraVe to French cosmetics giant L’Oréal for $1.3 billion, the latest effort by the beleaguered drugmaker to unload assets and pare debt.

The sale of the brands to L’Oréal follows swiftly on Valeant’s agreement on Monday to sell its Dendreon cancer business to Chinese conglomerate Sanpower for $820 million.

Chipotle Mexican Grill Inc., more than a year after a string of illness outbreaks linked to its restaurants rocked the company, said its revenue rose in the latest quarter but profit will take a hit as it continues to spend heavily to try to win back customers.

Valeant Strikes Deals to Shed More Assets [WSJ]
Chipotle Revenue Climbs but Profit Hit by Rising Expenses [WSJ]



Bill Ackman Thankful For Chipotle Burrito Bowls, Board Seat

The Ack-Man and the troubled burrito chain are finally settling for each other.

Bill ackman beach

Bill Ackman Admits That He Is Contemplating Self-Harm

The Ack-Man is looking to make his death by Chipotle more literal.


Bill Ackman Starts Over

Who’s ready to pony up $100K for Ack Act VI?

Bill Ackman Not Worried About Valeant In The Slightest

The Pershing Square manager is cool as a cucumber despite the whole 'huge losses' thing.


Bill Ackman Sold The Wrong Restaurant Shares

The Pershing Square founder has that familiar sick-to-his-stomach feeling.