Bill Ackman

Bill Ackman

Last Update: 07-06-2015

Number of Stocks: 8
Number of New Stocks: 2

Total Value: $14,970 Mil
Q/Q Turnover: 29%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Bill Ackman Watch

  • The Full Interview From Delivering Alpha With Nelson Peltz and Bill Ackman

    What is Bill Ackman (Trades, Portfolio)'s favorite investment today?

    Fannie Mae (FNMA) / Freddie Mac (FMCC) common stock. He thinks these stocks have enormous upside and he actually feels a bad outcome is very unlikely.


  • Bill Ackman and Nelson Peltz Joint Interview

    Bill Ackman (Trades, Portfolio) of Pershing Capital and Nelson Peltz of Trian Fund Management did a joint interview at CNBC's Delivering Alpha Conference. Both activist investors discussed activism and recent campaigns that they both fought. They both discussed McDonald's (NYSE:MCD), Burger King (NYSE:BKW) and Wendy's. Mr. Peltz discussed his recent campaign in DuPont (NYSE:DD) and the biggest mistakes he made in his activist campaign. Mr. Ackman talked about Fannie Mae (FNMA) and Freddie Mac (FMCC) and the Third Amendment that allows the government to take all of Fannie and Freddie's profits. After talking about Fannie and Freddie, Ackman and Peltz talked about other various topics with the interviewer.

    Ackman and Peltz joint interview:


  • Why Bill Ackman Doesn't Invest in Technology Companies

    Warren Buffett (Trades, Portfolio) is famous for avoiding exposing capital to technology companies. His basis for this is that he won't invest in anything he can't understand.

    It is hard to imagine someone as smart as Buffett not being able to understand something, but it is his discipline that really sets him apart.


  • Will Bill Ackman Go After Express Scripts Next?

    Bill Ackman (Trades, Portfolio) of Pershing Square, the second most well known activist investor only after Carl Icahn (Trades, Portfolio), just raised more money by issuing a billion worth of bonds. The NY Post reported that according to a source on an investor's call: Ackman plans to use the debt proceeds to help his $20 billion fund take on a big target. Ackman gets his fair share of headlines, and his targets usually quickly get bumped up a few notches. That makes it both fun and potentially profitable to speculate on his next target. With his fund getting bigger and bigger targets are becoming scarce which helps.

    To try and deduce what company Pershing Square will target, the first thing I did was set up a screen that excludes companies based on Ackman’s likely preferences. My screen excluded companies below $50 billion because he is going after a big target. It also excluded various industries like retail, energy and basic materials that I think he is unlikely to invest in right now based on his historic preferences and public comments he made. In addition I only included companies with a multiyear stable operating cash flow record and finally also excluded companies that analysts are extremely optimistic about because these are not logical targets for an activist. Finally, I expect Ackman will not invest outside the U.S. because of the additional legal issues and because of all the additional travel he and his team would need to do which could hurt the overall portfolio.


  • Acquisition in the Health Care Industry Increased Volatility

    In a previous article we discussed some reasons why Bill Ackman (Trades, Portfolio) initiated a position in Valeant Pharmaceuticals International (NYSE:VRX) to $3.87 billion, according to the fund's latest filing.

    On Friday, shares were down about 2% to $228.83. According to the Wall Street Journal, there was a potential buyout offer to buy animal-health giant Zoetis (NYSE:ZTS). Someone who is behind this move is activist investor Bill Ackman (Trades, Portfolio), who has taken a $2 billion stake in Zoetis and wanted the company to sell itself. Mr. Ackman also owns 5.7% of Valeant.


  • Bill Ackman's Pershing Square Releases Letter To Herbalife CEO Michael Johnson

    Pershing Square Capital Management, L.P. released today a letter to Herbalife (HLF) CEO Michael Johnson concerning his serious admissions about Herbalife and its conduct that were revealed by the New York Post. The letter reads as follows:


  • Follow Bill Ackman in Valeant Pharmaceuticals

    Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings filed by institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC).

    Bill Ackman (Trades, Portfolio)´s Pershing Square disclosed an equity portfolio valued at $14.97 billion at the end of the first quarter of 2015. The equity portfolio is mainly invested in Health Care (46%), Materials (31%) and Transports (19%) stocks.


  • Post-Mortem Of A Failed Investment: J.C. Penney

    In June 2012, I published an article outlining why I believed J.C. Penney (JCP) was a solid investment (here). At the time, the stock was trading at roughly $22 per share; three years later, it’s near $8 per share, for a loss on the investment of more than 60%. Clearly this is not how I envisioned this investment playing out.

    As painful as this experience has been, it has given me the opportunity to learn and improve; as an investor, I hope that I’ll take away the lessons needed to avoid similar mistakes in the future. I would consider failing to do so an even greater error than the investment itself.


  • A Close Look of Herbalife Clubs Worldwide: Part II

    Click here For Part I.

    The company has been fairly clear why it is like that. The explanation is that for a MLM it is important for distributors to protect the second sale.


  • A Close Look of Herbalife Clubs Worldwide: Part I

    This is a very long post. I have done a lot of work on Herbalife that should be made public – and I am travelling on several long-haul plane journeys which gave me time to splice it all together. [Now in New York via London and the Middle East.]

    There are Herbalife groups all around the world and they reflect the character of the community they are in.


  • The Latest Investing Moves by Seven Masters of the Universe

    45 days after quarter end, large institutional investors have to report their holdings to the SEC, which are then made available to the investing public. So as of late last week, we now have updated visibility into the trading machinations of the masters of the universe.

    Of course, the usual caveats apply. No matter how successful a manager is, it’s never a good idea to blindly follow their investment moves. By the time you or I get access to their trading moves, the data is as much as 45 days old. And for all we know, they may be selling it by the time we buy. Plus, as managers are not required to report short positions or options and derivatives positions, we also have no insight as to whether a stock might be a part of a long/short pair trade or some broader strategy.


  • Paul Tudor Jones Adds To Position in CSX Corp

    Paul Tudor Jones (Trades, Portfolio) is the president and founder of Tudor Investment Corporation. He is one of the most successful investors of current times. Last quarter, he increased his stake in CSX Corporation (NYSE:CSX) by buying 142,379 shares. As of March 31, he held 325,494 shares of the company.


  • A Look at Bill Ackman’s Investment in Air Products

    Bill Ackman (Trades, Portfolio) is known for his activist approach. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.

    Air Products and Chemicals (APD) is one of his current activist targets. He currently holds 20,549,076 shares of the company. Air Products has a portfolio of products that include atmospheric gases, process and specialty gases, performance materials, equipment, and services. One of the key bullish arguments for Air Products is the company's margin expansion potential. Air Products used to have an operating margin of around 13% when Ackman initiated his position. His key argument was that with a right management and processes in place, the company’s margins can see a meaningful upside.


  • Bill Ackman Adds Two Positions to Portfolio in 1QFY15

    Bill Ackman (Trades, Portfolio) added two new positions to his portfolio, according to GrurFocus Real Time Picks. The new additions bring his number of stocks to a total of eight and valued around $14.97 billion. His portfolio's quarter-over-quarter turnover is 29%.

    Ackman purchased 19,473,933 shares of Valeant Pharmaceuticals International Inc (NYSE:VRX) at an average price of $177.40 a share.


  • Ackman on Valeant Pharma: The Next Berkshire Hathaway?

    Valeant Pharmaceuticals International Inc (VRX) is a specialty pharmaceutical and medical device company that develops, manufactures, and markets a range of generic and branded generic pharmaceuticals, over-the-counter products and medical devices. Under the control of CEO Michael Pearson, Valeant’s aggressive new acquisition strategy has been executed close to perfection.

    Valeant just completed its acquisition of Salix Pharmaceuticals on April 1 after a failed attempt to buy Allergan last year. An un-Berkshire-esque bidding war left VRX paying $15 more per share for the company, despite Salix’s Xifaxan gastrointestinal drug, which many analysts believe has blockbuster potential. How much will they overpay next time?


  • Canadian Pacific’s Stock Corrects In Spite Of Good Results

    Canadian Pacific’s (CP) stock has corrected ~10% since mid-April despite posting good last-quarter results. While the company’s revenues were in line, its Q1 EPS of C$2.26 was better than estimates by C$0.07. CP's operating ratio was an impressive 63.2% in Q1. The main reason behind the recent correction is cautious commentary by other railroad companies. I believe it is incorrect to club Canadian Pacific with other rail road companies as it is really doing a good job in terms of improving its operations. Billionaire hedge fund manager Bill Ackman (Trades, Portfolio), who has a sizable stake in the company, recently called CP’s management best in the industry. Here’s a look at the company in detail.

    Canadian Pacific is a Class I Railroad company based in Canada. CP owns approximately 9,900 miles of track. An additional 3,800 miles of track are owned jointly, leased or operated under trackage rights. The company has shown good growth in its earnings in the past and its EPS has more than doubled over the last few years.


  • Air Product’s CEO Continues Buying The Stock

    Air Products and Chemicals (APD) is one of the current activist targets of Bill Ackman (Trades, Portfolio) and he currently holds 20,549,076 shares of the company. In addition to Bill Ackman, the company’s CEO - Seifollah Ghasemi – also seems very upbeat about the company’s prospects and is actively buying its shares. On May 1, 2015, he bought 20,000 shares of the company. In total, he has purchased 135,000 shares of the company since he became the CEO. He is the person in charge of turnaround and his buy back activity makes me bullish on the company.

    Air Products recently reported solid 2Q FY2015 results with adjusted EPS of $1.55, up 17 percent versus prior year. The company's adjusted EBITDA margin of 29.4% was up 440 basis points versus prior year. In addition, the company also announced that it has been awarded contract with Saudi Aramco for the world’s largest industrial gas complex which will supply 75,000 metric tons per day (20,000 oxygen and 55,000 nitrogen) to Saudi Aramco’s refinery being built in Jazan, Saudi Arabia for 20 years. Commenting on the win, Air Product's CEO Seifi Ghasemi said:


  • Baby Buffett - Will Bill Ackman Resurrect The Ghost Of Howard Hughes And Build A Corporate Empire?

    Bill Ackman bounds onto the stage in the ballroom of the Crowne Plaza Hotel in midtown Manhattan in front of hundreds of his peers: the crème de la crème of hedge funds, law firms, endowments and large pension funds. It’s early April, and Ackman is determined to give the Active-Passive Investor Summit a preview of what he internally calls “Pershing Square 2.0″: his rebirth as a kinder, gentler investor, more focused on building companies that last than on making quick trading profits.

    The ballroom responds with a yawn.


  • Bill Ackman's Ira Sohn Presentation – Long Jarden, Platform Specialty Products and Valeant

  • Weekly CEO Buys Highlight: APD, OPK, ASPS, ADTN, NSA

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:

    Air Products & Chemicals Inc: Chairman, Pres. and CEO Seifi Ghasemi bought 20,000 shares


  • Bill Ackman Is Still 100% Confident In His Herbalife Short

    Bill Ackman (Trades, Portfolio) is famously short Herbalife (NYSE:HLF).

    He does not think that the government needs to come in and shut Herbalife down for him to be successful. He believes that deterioration of the business will allow his short to be successful over time.


  • Bill Ackman May Buy This Railroad Company

    CSX Corporation (NYSE:CSX) is in the news recently due to rumours of Bill Ackman acquiring a sizable stake in the company. The company's stock has seen unusual stock price movements and options activity of late. UBS analyst pointed out that recent volume trend and stock performance of CSX is similar to that of Canadian Pacific (CP) during September and October 2011 when Pershing Square was buying its stock. I believe CSX's stock offers a good value at current levels. Here's a look at the company in detail.

    CSX Corporation is one of the nation's leading transportation companies. The company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The company’s annual average number of employees was approximately 32,000 in 2014, which includes approximately 26,000 union employees. Most of the company’s employees provide or support transportation services.


  • Time To Call In The Shorts On Lumber Liquidators

    Here’s an interesting company that some consider the Walmart of flooring, selling really low quality (and cheap) hardwood floors. The company has a network of around 318 Lumber Liquidators stores located throughout the United States and Canada.


  • Fannie And Freddie: Flirting With Re-Privatization

    For the last few year's there has been a quest by top value investors like Bill Ackman (Trades, Portfolio) and Bruce Berkowitz (Trades, Portfolio) to get the government to give all of the profits Fannie Mae (FNMA) and Freddie Mac (FMCC) back to the shareholders. A Whaton real estate professer has written a paper on Fannie and Freddie laying out that it may look like nothing is happening with the two firms, but a lot is happening. She did an interview with the Knowledge @ Whaton where she discussed Fannie and Freddie in detail.


  • Why Is Buffett Buying These Stocks? QSR And AXTA To Follow TESO

    I have two questions about these investments.

  • Herbalife Feud with Bill Ackman Continues

    By Sarah Roden

    It seems that Herbalife (NYSE:HLF) cannot escape the scrutiny of activist investor Bill Ackman (Trades, Portfolio) and his hedge fund, Pershing Square Capital Management. Herbalife, the weight loss product distributor, is incorporated in the Cayman Islands and has been accused of being a pyramid scheme in the past. The company has been under investigation by the Federal Trade Commission for the past year.


  • Valeant Finally Bags Salix for $11 Billion

    After much of a clout about who will acquire Salix Pharmaceuticals (NASDAQ:SLXP), Canadian Drug maker Valeant Pharmaceuticals International Ltd (NYSE:VRX) completed the purchase for $11 billion last Wednesday.

    Salix Pharmaceuticals works in gastro instrumental drugs and it will provide Valeant with new therapeutic business. This is Valeant's biggest buy so far. Valeant increased the takeover price for Salix by about a billion dollar in the new deal to knock out rival bidder Endo International earlier in March. Valeant rose the per share price by $15 from $158, the price offered by the drug company in February. This higher and all cash offer made Endo Pharmaceutical Plc. (NASDAQ:ENDP) withdraw its cash and stock bid, valued at $176.56 per share.


  • Everything You Need To Know About Investing And Finance In Under An Hour – Courtesy of Bill Ackman

    Four years in business school or less than an hour on the internet?

    Bill Ackman (Trades, Portfolio) has prepared a 45-minute video for us and claims that it covers everything that you will ever need to know about finance and investing.


  • Bill Ackman's Pershing Square Holdings 2014 Annual Report

  • Three Activist Targets of Bill Ackman That Are Also Seeing Insider Buying

    Bill Ackman (Trades, Portfolio) has one of the best investing track records in the world. He is known for his activist approach. He buys the common stocks of public companies and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount and sells when the companies reach their appraised value.

    The following is a list of three of his holdings which are also seeing insider buying activity from their top management.


  • Analyzing Bill Ackman's Top Holdings: Canadian Pacific

    Bill Ackman (Trades, Portfolio) has one of the best investing track records in the world. He is known for his activist approach. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.

    Canadian Pacific (NYSE:CP) is one of his top holdings. As of December 31, 2014 he was holding 13,940,890 shares of the company. Canadian Pacific is a Class I Railroad company based in Canada. CP owns approximately 9,900 miles of track. An additional 3,800 miles of track are owned jointly, leased or operated under trackage rights. The following table shows revenue, EPS and other key metrics of the company over the last three years.


  • A Closer Look at February´s Hedge Funds Returns

    The $3 trillion hedge-fund industry posted gains of about 2%. According to research firm eVestment, hedge funds gained 1.93% in February. Further, according to the Barclay Fund of Funds Index, the industry gained 2.25% in February, and is up 2.14% for the year.

    Almost all of Barclay’s 18 hedge fund indices had gains in February. Among them, we can highlight:


  • Herbalife And Bill Ackman Blame Game

    Last week Herbalife Limited (NYSE:HLF) garnered media attention owing to a public spat about market manipulation of the stock on CNBC by activist investor Bill Ackman (Trades, Portfolio). He had come on the show to defend himself against the charges of trying to downplay the stock and negatively impact its movement. There are allegations against him of trying to manipulate Herballife stock in order to bring the stock price down. The allegation also states that the market may have been manipulated or influenced by Ackman to impact the stock price of Herbalife in a negative way. He has been accused of directly and indirectly making false statements to the regulators and urging them to conduct a probe on Herbalife and in turn drive down the stock price.

    The Bill Ackman effect


  • Analyzing Bill Ackman's Top Holdings: Air Products and Chemicals

    Bill Ackman (Trades, Portfolio) has one of the best investing track records in the world. He is known for his activist approach. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.

    Air Products and Chemicals (NYSE:APD) is one of his top holdings. As of December 31, 2014 he was holding 20,549,076 shares of the company. Air Products has a portfolio of products that include atmospheric gases, process and specialty gases, performance materials, equipment, and services. One of the key bullish arguments for Air Products is the company's margin expansion potential. Air Products used to have an operating margin of around 13% when Bill Ackman (Trades, Portfolio) initiated his position. His key argument was that with a right management and processes in place, the company can post margins in line with its peer Praxair (PX). Praxair posted operating margin of 22% in FY2013 which was 900 bps higher than Air Products during the same period. This means if Bill Ackman (Trades, Portfolio)'s argument is true, there is a substantial margin upside for the company.


  • Bill Ackman: Carl Icahn Is Stuck with Herbalife

    Pershing Capital Management Founder and CEO Bill Ackman (Trades, Portfolio) spoke with FOX Business Network’s (FBN) Deirdre Bolton regarding the recent report that federal prosecutors and the Federal Bureau of Investigation (FBI) are probing potential market manipulation of Herbalife. On whether Herbalife can clean up their act, Ackman said, “there is no future for Herbalife as a legal company,” and, “I have a lot of confidence in the Department of Justice.” Ackman goes on to say, “we are totally open to full and fair look into details,” and that the senior management at Herbalife “knows they are running a pyramid scheme.” On Carl Icahn (Trades, Portfolio)’s relationship with Herbalife Ackman said, “I think Carl Icahn (Trades, Portfolio) at this point is actually stuck,” and, “If Carl wanted to sell the shares he’d have to get off the board.” On the direction of the investigation Ackman said, “I don’t think we will be here two years from now,” and, “either the business will have imploded or the government will have shut it down.” In regards to the average retailer Ackman said, “I get an enormous number of thank you notes, emails from your average retail investor who have followed us.”

    Video Links:   

  • Bill Ackman's Interview With Bloomberg Regarding Herbalife

    STEPHANIE RUHLE: Bill Ackman (Trades, Portfolio) of Pershing Square is on the phone with us. Bill, I want to start with you, on the record, let’s just make it clear, have you, your firm, or anyone you currently or HAVE previously employed been contacted or subpoenaed by the justice department or the FBI?

    ACKMAN: No, not to my knowledge.


  • Bill Ackman is keeping on buying Zoetis

    Bill Ackman, co-investment manager for hedge-fund group Gotham Partners LP, formed Pershing Square in November 2003 with $54 million raised from three investors. Ackman got his start in the real estate business, where he worked for his father prior to starting Gotham.

    He is an activist investor. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.


  • Bill Ackman Describes The Impact Activists Have On Businesses

    Are activist investors the friend of the long term shareholder or simply predators looking to make a fast buck?

    There likely isn't a simple answer to that question.


  • Activist Investor Bill Ackman's Newest Additions to His Portfolio

    Bill Ackman (Trades, Portfolio) of Pershing Square Capital Management, L.P. is known for being an activist investor as well as a philanthropist. Ackman, along with guru Bruce Berkowitz (Trades, Portfolio) and Joseph Steinberg, donated funds to the Center for Jewish History. It was the largest gift the center has ever received. Ackman alone donated almost $7 million because his family says, "we want our children to know, not only their living relatives, but those representing past generations for a greater connection to their family and ancestral origin and heritage."

    Ackman is also active in The Giving Pledge, started by guru Warren Buffett (Trades, Portfolio) along with Bill Gates (Trades, Portfolio) and his wife, in which he committed 50% of his wealth to go to charitable causes.


  • How Good is Your Argument?

    “One of the best ways to get confidence in an idea is to find the best argument out there and see if there is a case that you haven’t considered or if there is something you don’t know. If what I’ve heard are the best arguments that can be made against being short Herbalife, then I want to be short more.”


  • Herbalife's Faceoff Against Financial Market Coup

    Globally known MLM based healthcare product maker Herbalife (NYSE:HLF) has some major players in finance betting against the company due to its controversial practices. Ever since the US dollar had been gaining in strength since November 2014 versus other major currencies, and also the news of pending probes against the company coming to light, the stock seems to be going downhill. After Herbalife had posted its below-expected earning of Q3 2014, analysts like Timothy Ramey of Pivotal Research Group, has come down heavily to cut down on estimates of the stock price, from $110 to $75. The EPS estimates have been cropped as well, going from $1.34 to $1.22, alongside the 2015 full-year estimates, going down from $5.50 to $5.00. The net income from Q3 2014 went down by as much as 92%, owing to the pre-tax charges it faces from the reassessment of audit of assets and liabilities in the Venezuelan Bolivar. In short, there are problems all around.


  • Bill Ackman: Interview Transcripts Part 1

    STEPHANIE RUHLE, HOST: Bill Ackman (Trades, Portfolio), would you have guessed it, he is just a laugh riot over here? Bill, you just left the stage. You were sitting down with Ray Dalio (Trades, Portfolio). And for me watching two iconic investors sort of go through their investment practice was extraordinary. What did you learn from Ray?

    BILL ACKMAN, FOUNDER, CEO, PERSHING SQUARE CAPITAL: I learned a lot. I mean I really didn’t know how he did what he does. I’m sure I completely understand at this point. But remarkable how he’s built his company and his organization and his approach. And I (INAUDIBLE)…


  • Bill Ackman: JCPenney Is Probably The Worst Investment I've Made…

    In an interview to appear on FOX Business Network’s Risk & Reward at 1PM/ET today, anchor Deirdre Bolton speaks with Pershing Square Capital Management Fonder and CEO Bill Ackman (Trades, Portfolio) following the Harbor Investment Conference. When asked what his biggest strategic mistake was, Ackamn said, “I think JCPenney (NYSE:JCP) is probably the worst investment I've made.” Ackman also commented on Howard Hughes Corp saying, “I don't think I will ever sell. And that's a pretty long time frame.” When asked if he wasn’t an investor what profession he would be interested in Ackamn says, “an investigative reporter.”

    On his biggest strategic mistake:


  • Graham And Doddsville – Winter 2015 Issue

  • Herbalife after option expiry - Part II: counting shorts and longs

    With Herbalife at $31 then any puts that Ackman has (and we know the prices of them) are in the money so far that their delta is almost one.


  • Herbalife after the January option expiry: Part 1

    I have deliberately refrained from writing about Herbalife until the 17 January 2015 option expiry.

    We know from public disclosures that Pershing Square (PSQ) had a huge put option position on Herbalife.

    There were also a vast number of put options that expired on 17 January.

    Here are the outstanding in-the-money put contracts as at market close Friday.


  • Bill Ackman Says Benefits Of Oil Price Drop Outweigh Costs

    Bill Ackman (Trades, Portfolio)'s assets under management have grown from $11 billion to $18 billion over the past year.

    As far as investing opportunities that he is looking for, Ackman says it is the same as always. He wants to invest in large, high quality companies that have been mismanaged or are undervalued for fixable reasons.


  • The Latest Bill Ackman Video On The Herbalife Pyramid Scheme

    The Bill Ackman (Trades, Portfolio) pursuit of Herbalife continues.

    In his latest video Ackman goes through the mechanics of what a pyramid scheme truly is.  

  • Analysts Make Bullish Ratings in Response to Valeant’s Increased 2015 Guidance

    Valeant Pharmaceuticals (NYSE: VRX) held a conference call with investors on Thursday, January 8, in which the company increased its guidance for 2015. Initially, Valeant had predicted $9.1 billion in revenue and $10 cash earnings per share for 2015. They increased estimates to $9.2 to $9.3 billion in revenue and $10.10 to $10.40 cash earnings per share. Shares spiked nearly 6.9% during intraday trading after the announcement, jumping from $145 to $155.

    Valeant is a diverse pharmaceutical company that offers both over-the-counter and prescription drugs. Most of their drugs focus on dermatological needs and eye health, though their drugs cover a wide array of needs.


  • Love Him Or Hate Him, Bill Ackman Now Runs The World's Top Hedge Fund

    Lunch was a bit awkward. It was around 1 p.m. on a warm October day in New York. A group of Wall Street investors were tucking into chicken in a red-wine demi-glace and Brussels sprouts at the Plaza Hotel. They’d convened for Jim Grant’s fall conference, hosted by the influential editor of Grant’s Interest Rate Observer.

    The lunch speaker was Marty Lipton, legendary lawyer and veteran defender of management in countless proxy battles, hostile takeovers and corporate raids. His talk, which he had titled “Activist Interventions and the Destruction of Long-Term Value,” took aim at a strategy being used with increasing success against his clients and other corporations.


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    User Comments

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    ReplyRgoshen - 3 weeks ago
    I thought Bill Ackman (Trades, Portfolio) owned FNMA?
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    ReplyPatsysherry725 - 4 months ago
    this is definitely very important than other things. I always try to read prominent and major headlines.
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    ReplyGm1 - 10 months ago
    Dear Sirs / Madams,

    I am so interested in Pershing Square, would you please advise me its performance and cost? Thank you.

    ReplySamchell@yahoo - 1 year ago
    Some stocks are best evaluated by hands-on personal empiricism. After going into a Walgreen's store, it's manifestly clear where it ranks compared to CVS or Rite Aid. As for Ackman's attraction to Mondelez, perhaps he likes some of the company's snack items, and no doubt enough other consumers will share his taste to move the stock in a positive direction. But anyone looking for more something more dramatic would be better advised to take note of the population's compulsive consumption of Hershey products. (Twizzler's Twist 'n Pull Cherry Licorice is candy heroin.) Also, like Coke and Kleenex, Hershey's is a brand name that's synonymous with the product. (When's the last time your spouse asked you to go to Walgreen's to pick up a "Mondelez Bar"?) In short, investing is a game of guessing, supported by past predilections and indicators that "may" have a bearing on future results. But 50% of stock picking is playing hunches. Never ignore the intangibles as well as personal impressions--that's can't be charted or measured by most systems.

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