Closed-End Fund Articles
Mar 26, 2016
Click here to access How to Buy Bill Ackman, Dan Loeb on the Cheap
Few prominent investors have performed as badly in recent years as Bill Ackman of Pershing Square Capital Management. Battered by the collapse of Valeant Pharmaceuticals International and other stock losses, Ackman’s publicly traded, overseas-listed closed-end fund, Pershing Square Holdings, fetched $14 a share late last week, down from an August 2015 peak of nearly $30. The fund’s net asset value was down 25.2% this year through March 22, after a loss of 20.5% in 2015. The Standard & Poor’s 500 index was about flat last year.