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"You win some and you lose some. For billionaire investor Bill Ackman of Pershing Square Capital Management, embattled drugmaker Valeant Pharmaceuticals (NYSE:VRX) may very well represent the worst investment of his lifetime after the billionaire announced yesterday that he'd sold out of Valeant.
However, selling Pershing Square's remaining 18.1 million shares now means walking away with about $221 million. That might seem like peanuts after losing nearly $4 billion, but Ackman deserves credit for realizing his mistake, checking his ego at the door, and walking away with $221 million rather than risk seeing his investment get further whittled down.
In the summer of 2015, shortly after Valeant hit an all-time high of $264 a share, the wheels fell off the bus, and Ackman would be taken for the ride of his life."
Ackman can move on now, he's shown what he can do with big winners and I look forward to seeing him brush the dust off from this loss and make some winning moves. Same principle applies to me and other day traders. You have some startling losses but you know your abilities, the obstacles facing you daily cannot be backtested properly, contrary to snake oil salesman suggestions.
Keep your head up and keep looking for the next opportunity.
If you want consistent income you have to switch to selling snake oil, so handle those losses and keep looking towards the next winner while knowing this is gambling, if day trading could be backtested and put into a conherent system it would have been programmed and reverse-engineered by your brokerage and the smartest minds on Wall St. long ago.
"You win some and you lose some. For billionaire investor Bill Ackman of Pershing Square Capital Management, embattled drugmaker Valeant Pharmaceuticals (NYSE:VRX) may very well represent the worst investment of his lifetime after the billionaire announced yesterday that he'd sold out of Valeant.
However, selling Pershing Square's remaining 18.1 million shares now means walking away with about $221 million. That might seem like peanuts after losing nearly $4 billion, but Ackman deserves credit for realizing his mistake, checking his ego at the door, and walking away with $221 million rather than risk seeing his investment get further whittled down.
In the summer of 2015, shortly after Valeant hit an all-time high of $264 a share, the wheels fell off the bus, and Ackman would be taken for the ride of his life."
Ackman can move on now, he's shown what he can do with big winners and I look forward to seeing him brush the dust off from this loss and make some winning moves. Same principle applies to me and other day traders. You have some startling losses but you know your abilities, the obstacles facing you daily cannot be backtested properly, contrary to snake oil salesman suggestions.
Keep your head up and keep looking for the next opportunity.
If you want consistent income you have to switch to selling snake oil, so handle those losses and keep looking towards the next winner while knowing this is gambling, if day trading could be backtested and put into a conherent system it would have been programmed and reverse-engineered by your brokerage and the smartest minds on Wall St. long ago.
Smartest Move Billionaire Bill Ackman Made
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