Wednesday, January 27, 2016

Bill Ackman acknowledges poor 2015 performance

A. Spokesman

Pershing

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"We do not believe that our investment performance in 2015 was primarily due to unforced errors, but rather due mostly to the market’s reappraisal of our holdings without a corresponding material diminution in their intrinsic value.”  (It's not our fault the market is not as smart as we are.)