The author has some good arguments especially regarding the sentence "we don't know whether that is true' as something that a fund owing such a large % position should not have to say
http://seekingalpha.com/article/3625376-a-response-to-sequoia-funds-letter-on-valeant-pharmaceuticalsBecause Sequoia was closed for so many years I suspect few have sold due to large capital gains (I am in that category) but obviously those who are withdrawing funds could cause undesired sales. I am more concerned about Ruane and Cuniff clients who in aggreagte probably hold large positions in VRX and who might sell and the conflict of interest the firm has deciding whether to sell shares in the fund or in private managed accounts
