Ackman's Pershing Square IV hedge fund, which was invested in Target, dropped 68% last year. It dropped 43% the previous year. How is it, that Ackman, with the silver tongue, who is revered as an intellectual giant on CNBC able to lose so much of investors money?
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=afNlUpuI3T9E
Maybe the funds that he had invested in, were the ones were that were short the monolines! Now supposedly, he promised that he would give the money he made on shorting these monolines to the Robin Hood Foundation. He then pulled a switcheroo and promised the profits to the Pershing Square Foundation.
http://www.portfolio.com/executives/features/2008/03/17/Bill-Ackmans-Charity-Bet
Down 68%? Investors in Pershing Square IV may now say that Ackman is the Robbin' hood!
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