Model Price Question #3
November 12, 2015
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Facebook Comment or Question
Could it get any worse for VRX-us / VRX.ca ? The company and Bill Ackman are being charged with insider trading on Valeants failed attempt to take over Allergan Inc. Couldn’t happen to a nicer guy.
From ModelPrice Guy
If it rains…it pours! I wrote about this partnership set up between Ackman and Valeant that profited from the initial takeover bid on Allergan called PS Fund 1. Look at my blog on this here.
Follow up Facebook Comment
Brian simply amazing that you were on this back in April 2014. Well PS investments is about to be P…ss.d on by the Feds. You end your blog by saying “what have you been doing for the lst 6 years” Well having retired from the US, i’ve been playing craps with stocks on both sides of the border. Some great wins and a couple, shall we say less than stellar gambles. Ask in 5 years and I bet I will be saying ” Following MPT it has been win after win after win with only minor casualties. Thanks Brian.
From ModelPrice Guy
Great stuff here John. Yes, when I was researching Valeant/Ackman’s takeover of Allergan I couldn’t believe that Valeant and Ackman’s PS Fund 1 was legal, even though as I mentioned a former SEC enforcer said it was. William “The Butcher” Cutting (aka Bill Ackman) is having a hard time lately…this is what happens when you ‘fly too close to the sun.’
Interesting to me the business press, the lazy buggers that they are, didn’t screem ‘bloody hell’ about this arrangement at the time. I was watching Bill Ackman being interviewed by Charlie Rose some time ago and I almost puked in my office waste-paper basket. It was such a ‘soft ball’ interview, with Charlie’s intention of maintaining a friendship outside the studio than asking any hard questions about anything ‘The Butcher’ was actually doing in the investment world. Disgusting! But that’s the Big Apple…when you’re on top as Ackman clearly was at the time…people don’t look at what makes you successful but the end result…money.
The good news the opposite is also true. With trouble on all fronts, including his investors wanting to abandon his investment funds, I’m sure ‘The Butcher’ is having a hard time finding a lunch partner anywhere in the five boroughs.