Valeant Pharmaceuticals/Bill Ackman E-mails
Released yesterday.
Highlights:
Halt the Stock
Send out a Press Release
Advice on Conference Call
Don't speak with the media
Rome is burning
Crossposting, credits to humanafteralll from WSB.
Attachment | Size |
---|---|
Halt the Stock 57.91 KB | 57.91 KB |
Send out a Press Release 115.64 KB | 115.64 KB |
Advice on Conference Calls 118.77 KB | 118.77 KB |
Don't Speak With the Media 115.11 KB | 115.11 KB |
Rome is Burning 160.01 KB | 160.01 KB |
Love the callout of Ubben
there is no date on the last email, but if Ackman thinks that Valeant is dead then whats with all the BS in the latest investor presentation about how Valeant will come back to life via appointing Joe Papa as a new CEO
He has an exorbitant portion of his entire fund invested in Valeant. In addition, there aren't any willing buyers for VRX. He's desperate to shore up support for the company because there's no way out.
On another note, John Hempton of Bronte Capital has been killing him on VRX from the beginning. http://brontecapital.blogspot.com.au/2016/05/if-someone-disagrees-with-…
There is a way, admit that you are wrong, sell/restructure and move on. Position is 13% from the funds total value, not the largest one, and after the stock collapsed it's even less. Hempton was not the only one dissing VRX, it was pretty much on everyone's tongue after the Citron's report.
Well before Citron... Allergan refused to engage w/ VRX and made some disparaging remarks about the VRX model.
Hempton has been talking about VRX well before Citron (the first VRX post I can see on his blog is dated 11 Jun 2014). Apart from him, there was Chanos, AZValue, as well as some others.
Is the last one even real? Lol
Yes, it is. These are pulled directly from a US Senate PDF titled, "Valeant Pharmaceutical's Business Model: The Repercussions for Patients and the Health Care System". It's an 818 pg document including all of the above e-mails and analysis of Valeant.
DL: senaging.app.boxDotcom/s/0853lykekrlogev4uuwma6md7hdb97z0
78mb PDF. Page 483.
Apologies for the broken link for being a new user; just add https:// and dot. Hope this helps.
http://www.wallstreetoasis.com/blog/ackman-teaming-with-valeant-to-take…
They've announced a pretty late date for releasing Q1 earnings also. They said in their announcement that it will still be released "well ahead of the hard deadline before we default" or something like that. Dude that's not a bragging point...how hard is it to release earnings? I still find the delay on the Q4 2015 earnings report bizarre.
13-Fs became public today for 3/31 period. Tons of big name holders completely blew out of VRX: Brahman, Viking, Lone Pine, Grantham, Brave Warrior, Janus, Coatue.... including TRowe here because they sold an impressive 20mm shares and were the #3 holder. There were a couple additions but more rampant selling for sure.
Talk about capitulating on VRX... not verified but just optically seeing a lot of HF roll-up investors took down exposure / sold roll-up positions. Obviously VRX is the ultimate roll-up blowup but just thought it was interesting that HFs are taking a more conservative approach to the roll-up names
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