It still pays to be billionaire Bill Ackman, and it still pays to work for his struggling hedge fund Pershing Square Capital Management.
That’s the takeaway from page 76 in the annual report of Pershing Square Holdings, the Amsterdam-listed fund Ackman took public in 2014, which is proving a stabilizing force as the fund manager suffers sharp losses from his 9% holding of toxic drug giant, Valeant Pharmaceuticals VRX -7.00%.
