1. Ackman Acknowledges "Mistakes" in Letter to Investors

    Ackman Acknowledges "Mistakes" in Letter to Investors

    The activist investor William A. Ackman had some explaining to do.  After a turbulent few months, in which he resigned from the board of J.C. Penneyand continued to experience losses on his bet against Herbalife, Mr. Ackman, the head of Pershing Square Capital Management, wrote to his investors on Tuesday to provide some context on the recent headlines...

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