Gartman Letter Says Ackman Doing More Reputational Damage To Hedge Funds Than Madoff

Dennis Gartman normally sticks to analysis of markets, primarily with a commodity focus. Sometimes he is correct, and other times he is wrong, sometimes very wrong. (In fact Benzinga, among many others once questioned if Gartman wasn't "the best contrarian indicator of oil prices or any asset.") Occasionally The Gartman Letter will throw in political analysis, particularly when it is relevant to markets. In Thursday’s letter, Gartman, however, reported rather casually on a somewhat scathing attack on Pershing Square founder William Ackman, comparing reputation damage the activist hedge fund manager has done to the hedge fund industry with damage that convicted Ponzi master Bernie Madoff inflicted on the industry.

Also see Harry Markopolos Warns Of Three New Ponzi...