Reported 2 months ago
Billionaire Bill Ackman faced a tumultuous week as his hedge fund, Pershing Square Holdings, reported a 4.7% loss in July, wiping out significant gains for the year. This decline was exacerbated by a sharp downturn in Universal Music's stock, which fell 24.5% following disappointing growth signals in the music streaming market. Despite Ackman's history of aggressive investments and a reputation for risk-taking, this week marks a significant challenge for his investment strategy.
Source: YAHOO