Investing Like Ackman Lifts Canada Index as Valeant Gains
A Valeant Effort
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Hedge fund investor Bill Ackman is used to taking big bets for big rewards, as he’s done with Valeant Pharmaceuticals International Inc. Buyers of Canadian index funds may be on a similar thrill ride without even knowing it.
Valeant is rapidly becoming the 800-pound gorilla of the Standard & Poor’s/TSX Composite Index, Canada’s benchmark equity gauge after an acquisition spree supported by Ackman, the drugmaker’s second-biggest shareholder.