Cutting Losses

Pershing Square, a large well-known hedge fund managed by the famous Bill Ackman somehow managed an incredible feat: Losing money in each of the last three years as the S&P 500 jumped 30% in the same period of time. Hard to do. Requires really big, concentrated bets that all go wrong at the same time and don’t recover. News hit last night that the firm will now do some layoffs and he’ll personally retreat ...

source http://thereformedbroker.com/2018/01/23/cutting-losses/