From being on top of the investing world in 2014, it’s been a relatively short and hard fall for Bill Ackman‘s Pershing Square, the multi-billion dollar hedge fund that owned $16 billion in equities at the end of 2014, a year in which it returned just over 40%.
However, three losing years have followed, each of which saw Pershing Square finish close to 20 percentage points behind the S&P 500, with the fund being dragged down by failed investments in companies like Valeant Pharmaceuticals...
