Longtime Valeant Investor Sequoia Fund Exits After LossesBy
Holding ‘badly penalized our results’ in 2016, committee says
Battered drug stock was biggest position at start of the year
Ruane, Cunniff & Goldfarb, manager of the Sequoia Fund and once the largest shareholder in Valeant Pharmaceuticals International Inc., said the $4.8 billion mutual fund exited that investment last month after losses.
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