iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Heads Are Rolling at Pershing Square: Key Player in Ackman’s $VRX Investment Leaves Firm

Bill fraternized with former college friends a lot, hiring them at his firm, permitting them to make multi- billion dollar, ruinous, investment decisions.

Now that the dust has settled and Bill’s cock is on the line, those fuckers are seeing their way to the door. I wouldn’t be surprised if Bill had their country club membership status revoked, and checkered pants soiled.

William Doyle, a key figure in Pershing Square Capital Management’s controversial investment in battered drug company Valeant Pharmaceuticals, is leaving the hedge fund, its founder, William Ackman, told investors on Wednesday.
Doyle introduced Michael Pearson, the former CEO of Valeant, and Ackman, the billionaire activist investor, in early 2014 and a year later Ackman’s Pershing Square invested in the Canadian drugmaker.
Doyle was friends with Pearson from their days as consultants at McKinsey and Doyle knew Ackman through Harvard Business School. Doyle joined Pershing Square’s investment team shortly after brokering the initial meeting and helped oversee science-oriented investments.
Last month, Pershing Square said Doyle would not stand for reelection as a board member at animal health company Zoetis Inc. Earlier this week the fund sold a chunk of its investment in the company.
Doyle’s exit marks the second departure of a Pershing Square investment team member in five months. In January, Paul Hilal, who has been friends with Ackman since college, left the firm.

See you later, Mr. Doyle. I am sure Bill hopes that you burn in hell for what you did to him and fellow employees at Pershing. That was no way to treat a fellow Harvardian, you scoundrel you.

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6 comments

  1. gappingandyapping
    gappingandyapping

    Why would a person want to put themselves through all of this bullshit. At some point just say fuck it and try to conquer something else for fun.

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  2. trumpmeister

    I hope that Ackman has enough liquidity to withstand another 50% drop. The chart predicts another final flush to clean out crap. VRX = ENRON.

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  3. pb

    The problem for guys like Ackman is that once they move to the top of the food chain, they lose touch with political and macroeconomic reality. (Not all of them; it takes an egomaniac to do this.) Then, surrounded by YesMen, bad decisions are made.

    HLF – How in the hell did he think that a few propaganda releases were going to destroy the All-American MLM business model that has been in place for decades?

    VRX – ACA passed in what, 2010? Did he really think that government involvement in health care was going to support the VRX model? Yes he did, same as his fellow egomaniac, Martin Shkreli. Governments have been grinding guys like these into cornmeal for centuries.

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    • btn

      Exactly.

      Rather than true, meaningful, price reformation (Medicare negotiations for drug prices), just sacrafice an @hole like Shrekeli and the peasants remain sedated (under non-generics, off course)

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  4. juice

    Pershing Sq analyst meeting, caught on video.

    https://www.youtube.com/watch?v=RS8HJT4_Ero

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  5. gorby

    It’s nice when crony capitalism
    wets it’s pants

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