NEW YORK ( TheStreet) -- Billionaire activist and hedge-fund manager, Bill Ackman is known for his investment prowess. His credits include a successful MBIA (MBI) short position during the heat of the financial crisis and a strategic long bet on General Growth Properties (GGP) when many gave up the mall operator as dead.Creating returns for his Pershing Square hedge fund in 2013, however, has been difficult and may become much worse soon. After a highly public battle with J.C. Penney's (JCP) management, Ackman threw in the towel and his Pershing Square hedge fund suffered a 50% loss on its investment.
Bill Ackman Facing the 'Herba-Squeeze' of his Life
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