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Bill Ackman Sends Out Desperate "Hail Mary" Letter Defending Valeant, Says Business Worth "Multiples" More

With Valeant down nearly 50%, and Pershing Square fielding an unknown number of margin calls and redemption requests as of this moment, Bill Ackman just did the only thing he could do at this moment: send a letter to anyone who still cares, defending his disastrous investment, yet again.

Pershing Square Holdings, LTD. Sends Communication to Investors Regarding Valeant

Dear Pershing Square Investor,

 

Future Gold Prices

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Hold your real assets outside of the banking system in one of many private international facilities  -->  http://www.321gold.com/info/053015_sprott.html 

 

 

 

Future Gold Prices

Posted with permission and written by Gary Christenson, The Deviant Investor (CLICK FOR ORIGINAL)

 

 

The internet is filled with predictions for the price of gold, from $500 to $50,000 per ounce. It depends on your world view.

Ackman Loses $1 Billion, Pershing Square Fund Halted

Ackman Loses $1 Billion, Pershing Square Fund Halted

Circuit-breakers kicked in as  Pershing Square Holdings, the publicly traded vehicle led by hedge fund billionaire Bill Ackman, has been halted. With the stock down over 11%, Bill Ackman's 30.7mm share personal holding means a paper loss of nearly $1 billion when the stock hit its intraday low of just over $3, down $32 on the day.

The stock trades on Euronext Amsterdam:

 

But there is a US tracker:

 

As Valeant is now down over 45% on the day.

Bye bye "tres commas" club?

What The Smart Money Is Most Worried About: This Is The Biggest "Tail Risk" Keeping Traders Up At Night

What The Smart Money Is Most Worried About: This Is The Biggest "Tail Risk" Keeping Traders Up At Night

When BofA's Michael Hartnett releases his monthly Fund Managers' Survey, the one chart we always head straight to is the one showing what the "smart money" investors, aka those polled clients who make up the survey (and the same ones who we reported earlier have been selling this bear market rally for the past seven straight weeks) are most worried about, or as they put it: what are the biggest "tail risks."

A brief walk down memory lane. 

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