Pershing Square made a $4bn loss when it sold out of the drugmaker in March

Hedge Funds

Billionaire investor Bill Ackman said Thursday he has “something to prove” after a costly investment-gone-wrong in drugmaker Valeant, and that he and his firm see better days ahead, 

Speaking at the SkyBridge Alternatives, or SALT, hedge fund conference, Ackman walked through the investment his Pershing Square firm made in Valeant — a position he liquidated in March at a $4bn loss. 

Ackman apologised to investors in Pershing Square’s annual letter earlier this year

Bill Ackman: ‘I’ve got something to prove’ after Valeant mistake

William Watts

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