Saturday, 25 October 2014
Last updated 19 hours ago
Dec 4 2013 | 2:17pm ET
When Pershing Square Capital Management has been in the news this year, the news has been almost uniformly bad. The hedge fund's $1 billion short against Herbalife Inc. has suffered a $500 million paper loss and dragged firm founder William Ackman into a nasty public feud with Carl Icahn. And Pershing Square's huge investment in J.C. Penney Co. also cost it a half-billion dollars this year.
But in spite of those sizeable setbacks, the $12 billion New York-based firm is poised to post very respectable returns, indeed, this year. Pershing Square's flagship hedge fund is up 10% this year after rising 1.4% last month, easily topping most industry indices.
Pershing Square's offshore International Fund is nearing double digits, up 9.4% after a 1.2% jump in November.
Most of the firm's turnaround is due to its 7.9% return in October.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.