Bill Ackman’s hedge fund, Pershing Square Capital Management may be the second biggest owner of Valeant Pharmaceuticals International Inc., but the fund’s diversification has helped insulate it (somewhat) from the brunt of the stocks decline. Other hedge funds haven’t been so lucky.
According to Reuters, Ackman’s Pershing Square reported a decline of 6% to 7% for the month of October. Meanwhile, Jonathan Auerbach and Scott McLellan’s Hound Partners, which had a 15% position in Valeant at the end of the second quarter, dropped 7.1% in October.
However, Nehal Chopra’s Tiger Ratan has recently emerged as the biggest loser of the Valeant scandal. According to the Wall Street Journal, Tiger Ratan has posted a decline of 33% in just...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
