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Hedge fund maverick hedges his bet.
January 3, 2016
By: TOM BRANNA
Editor
Maybe having Hedge Fund Billionaire Bill Ackman in your corner isn't such a good thing after all. Valeant Pharmaceuticals' staunchest defender trimmed his firm's stake in the beleaguered drug company, citing tax reasons. In a regulatory filing, billionaire Bill Ackman's Pershing Square Capital Management said it sold some 5 million Valeant shares “to generate a tax loss” for investors. The hedge fund now owns 8.5% of Valeant's outstanding shares, down from cl...
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