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Sequoia Defends Valeant + Valeant's Pharmacy Dropped by Express Scripts and CVS
Okay, this is either a carefully orchestrated "dump" or Sequoia has met its Washington Mutual. You have two directors resigning over Valeant investment? OR Citron is lying?
WTF does Sequoia mean Citron exploiting negative sentiment around the stock? I thought the negative sentiment was because of what Citron reported.
Investor Ackman defends Valeant in 4-hour conference call By Dean Starkman latimes.com The brash billionaire activist investor, best known in California for his scorched-earth campaigns against Herbalife Ltd. and the management of drugmaker Allergan Inc., staged a high-stakes conference call to defend his latest cause: his huge investment in Valeant Pharmaceuticals International Inc. Early last year, Ackman teamed up with Valeant in a bid to buy Allergan, the Irvine maker of Botox and other skin care products.
The bitter fight — including short-lived lawsuits — eventually sent Allergan into the arms of Irish firm Activis. Pershing Square walked away with a reported gain of more than $2 billion.
On Friday, Herbalife offered mock sympathy to Ackman over Valeant's woes.
"Unfortunately we have a great amount of experience in dealing with activist short-sellers," said Alan Hoffman, an Herbalife executive vice president. "We're happy to give Ackman some advice if he needs it."
In his long talk, Ackman answered nearly 200 questions sent by email from investors and reporters. But even as he talked, shares continued to fall. The stock has lost 63% of its value in the past three months, 48% of it this month. It lost $17.73, or 17.7% Friday, to $93.77 in U.S. trading.
Pershing Square's roughly 6% stake in Valeant represents one the largest positions in the $16-billion New York hedge fund operation. Longtime Ackman-watchers said the conference call — so mobbed by investors and financial reporters that the call-in system suffered technical snafus — was emblematic of a high-risk, high-wire career made up of big bets punctuated by a series of dramatic public confrontations.
Ackman's investing style, while often riveting, is also source of frustration for his investors, said Erik Gordon, a professor at the University of Michigan's Ross School of Business.
Comments
PHILIDOR RX SERVICES LLC
330 S WARMINSTER RD STE 350
HATBORO PA 19040
855-744-5791
Services and Programs
Use this as my primary pharmacy
Price a drug at this pharmacy
WTF does Sequoia mean Citron exploiting negative sentiment around the stock? I thought the negative sentiment was because of what Citron reported.
By Dean Starkman latimes.com
The brash billionaire activist investor, best known in California for his scorched-earth campaigns against Herbalife Ltd. and the management of drugmaker Allergan Inc., staged a high-stakes conference call to defend his latest cause: his huge investment in Valeant Pharmaceuticals International Inc.
Early last year, Ackman teamed up with Valeant in a bid to buy Allergan, the Irvine maker of Botox and other skin care products.
The bitter fight — including short-lived lawsuits — eventually sent Allergan into the arms of Irish firm Activis. Pershing Square walked away with a reported gain of more than $2 billion.
On Friday, Herbalife offered mock sympathy to Ackman over Valeant's woes.
"Unfortunately we have a great amount of experience in dealing with activist short-sellers," said Alan Hoffman, an Herbalife executive vice president. "We're happy to give Ackman some advice if he needs it."
In his long talk, Ackman answered nearly 200 questions sent by email from investors and reporters. But even as he talked, shares continued to fall. The stock has lost 63% of its value in the past three months, 48% of it this month. It lost $17.73, or 17.7% Friday, to $93.77 in U.S. trading.
Pershing Square's roughly 6% stake in Valeant represents one the largest positions in the $16-billion New York hedge fund operation.
Longtime Ackman-watchers said the conference call — so mobbed by investors and financial reporters that the call-in system suffered technical snafus — was emblematic of a high-risk, high-wire career made up of big bets punctuated by a series of dramatic public confrontations.
Ackman's investing style, while often riveting, is also source of frustration for his investors, said Erik Gordon, a professor at the University of Michigan's Ross School of Business.
"There are two Bill Ackmans," he said. "The public sees him as a guy who's obstinate to the point of ridiculous. Investors see him as a guy who can make them a lot of money. Their aggravation comes when they think about whether he could make them a lot more money if he wasn't so obstinate."
http://www.latimes.com/business/la-fi-ackman-investments-20151031-story.html
https://www.google.com/finance?q=OTCMKTS:PSHZF&ei=fSI0VsjcA6W3iAKw_pDAAg