Bill Ackman: get ready for the bargains of a lifetime

Hedge fund manager Bill Ackerman is turning bullish and putting his money into bargain stocks.

Bill Ackman, founder, Pershing Square

Hedge-fund manager Bill Ackman has had “a few rough years”, says Matt Levine on Bloomberg. His woes included a $4bn loss on Valeant Pharmaceuticals (the firm’s shares fell 90% amid drug-pricing scandals and accounting fraud) and a $1bn loss on supplement firm Herbalife (Ackman argued it was a pyramid scheme and shorted it, the stock kept going up). But the coronavirus crisis has been good to him. “You don’t make a 10,000% return in 20 days very often,” yet that’s what Ackman has managed with one well-timed trade.

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