Bill Ackman Had a Rough First Quarter and He’s Still Bearish on Herbalife

Bill Ackman's hedge fund, Pershing Square, lost over 25 percent in first quarter and the billionaire investor is still bearish on shares of Herbalife (HLF) - Get Report . The fund has a short position on the stock, yet Herbalife shares rose 15 percent so far this year. Pershing also suffered severe losses from its stake in troubled pharmaceuticals giant Valeant Pharmaceuticals (VRX) . TheStreet's Scott Gamm speaks with RealMoney writer and analyst James Passeri.