Pershing Square is trying to stem the flow of blood flowing from its orifice. Ackman took the time out from his busy day of losing $600 million to tell the world that Pershing isn’t playing games anymore. The fucking games are over.
Ackman means business now.
If you enjoy the content at iBankCoin, please follow us on TwitterDear Pershing Square Investor, Today, Valeant reported preliminary unaudited earnings for Q4, updated guidance for Q1, full year 2016 and the next twelve months. In particular, management shocked the market with revenue and earnings guidance for the next twelve months (Q2 2016 to Q1 2017) which does not appear to foot with continued favorable prescription trends and management’s commentary on the call about the strength of the underlying businesses. Furthermore, the company’s 10-K has been delayed requiring the company seek a waiver under its credit agreement. While we believe that it is highly likely that the banks will provide a waiver, uncertainty about the potential for a default creates enormous investor fear.”
“The above factors have caused investors to lose total confidence in the company as reflected by the current 44% decline in Valeant’s stock price.”
“Last week, Steve Fraidin, our Vice Chairman, joined the board. We are going to take a much more proactive role at the company to protect and maximize the value of our investment. We continue to believe that the value of the underlying business franchises that comprise Valeant are worth multiples of the current market price. Getting to those values, however, will require restoration of shareholder confidence in the management and governance of the company.”
Lol what a ponzi scheme
Question now is, how is Ackman going to get the 1.21 gigawatts, to go back in time and undo this trade?
Love the “foot with” shit.
VRX’s discrepancy between performance and rhetoric does “foot with” their exploded business model. Lie with pigs, you gonna get dirty.
Yeah, never heard anyone use “foot” in that context before. Weird.
Rules of the Market..1. Bubbles ALWAYS Pop 2. Never Fall in Love with a Stock….Bill that Love Affair with VRX has to stop.
Right at this moment I am not sure why USD Long is not getting a stronger Bid? With Corporate Black Out starting up, not sure why we are still sitting so up. We really should be sitting at nearterm daily support of SPX 1988ish? BoJ did Nothing and both ECB and BoJ are on hold until July (unless we see Yen under 110). No Central Banks, No Fundies, Over Supply of Commodities….and no corporations to buy their junk.
Just wait until the Fed “accidentally” becomes a tad too bearish tomorrow after The Donald cements his nomination and likely White House victory. This stocked market may very well burn to the ground.
One thing is certain… there will be a book written about this. The main lessons will be diversification, cutting losses early, not adding to losers, etc…
Wait, I’ve read that stuff in several other trading books.
Yes, this new book will have a chapter dedicated to the reasons one should not dye one’s eyebrows.
Fly- this could have been you had you dug in with your financial 4 horsemen. a lesson to all that sometimes you just gotta cut the cord and move on.
Okay, enough with the market already.
I come for the entertainment from Frog and Ironbird.
lolz “Dear Pershing Square Investor”. i voted for Trump today. 10x the usual traffic at the polling place. strangely the two people behind me were denied. one was an anchor baby and the other an angry old white guy. guess they thought that you just show up and….
Ackman needs to seek treatment for his gambling compulsion. There is trading and then there is outright gambling.