Has Bill Ackman Jumped the Shark in Retail?

Your next video will start in

Recommended Videos

  • Info

  • Comments


Aug. 13 (Bloomberg) -- Bloomberg senior markets correspondent Julie Hyman runs down the retail losses accumulated by activist investor Bill Ackman on Borders, J.C. Penney and Target as he resigns from J.C. Penney's board, but remains the company's largest shareholder. She speaks on Bloomberg Television's "Bloomberg Surveillance."

Bill ackman still has the largest shareholder stake in jcpenney.

There is no indication that will change that he is going to reduce or sell off his stake.. he would do it at a substantial loss.

He has losses of $486 million which is the decrease in the value of his holding since he first started accumulating this stake a couple of years ago.

In addition, he has accumulated some 15.9 million shares through swap contracts that he bought back in september, 2001. we don't have the exact calculation on his losses there but we do know he is required to make cash payments to the extent that the market rises below $26.14 apiece.

The shares now or at $13.48. bill cohan follows wall street and we asked him what the reputation was for bill ackman.

He said many in the hedge fund world think he has jumped the shark.

Not only on jcpenney but also herbalife.

He had losses on target, losses on borders and he was still a 31% shareholder when borders filed for bankruptcy.

If you look in that category, his history has not been strong.

He did say he will back up because he did not have a history of doing so.

Even though his reputation might be damaged within the hedge fund world, this is typically a guy who has tended to stand his ground in the past.

Thank you, julie hyman.

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change