How A Big Hedge Fund Ace Lost 95%

One of the biggest hedge fund managers, Bill Ackman, considered to be one of brightest, lost over 95% in one of his largest positions, Valeant Pharmaceuticals (VRX).

He held the stock for about 3 years, while the stock plunged from $257 to $11 on March 14, 2017. On March 13, he declared he had sold his entire position in Valeant.

The ‘Death Of Coal’ Was Premature

President Obama promised in 2007 that his policies would “bankrupt the US coal industry.” This was one promise that was kept.

A study found the coal industry lost 50,000 jobs from 2008 to 2012. That’s a lot of misery for those families. Many leading coal companies went bankrupt.

Dohmen Capital presents the chart below for KOL, the ETF for coal companies. The ETF lost 90% of its value from the 2011 peak.

Retail Bulls Get Slaughtered

The bulls in the retail sector over the past year got another disappointment with weak sales during the holiday season. As we recently pointed out to our Dohmen Capital clients, Wall Street analysts were bullish on retail late last year, predicting that Christmas sales would be strong. The election results produced further optimism, saying that the prospects of the new President will encourage consumers to spend more.

If the world were only that simple! To spend more, people need more income, which has been declining for several decades. They need jobs, which right now is not happening except in

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