Smart money really so smart, since the beginning of 2015, Bill Ackman, who once had $20 billion in assets under management including from the world’s largest money manager, has Blackstone, has lost 46.6% by our calculations, or almost half, compared to SP return of https://www.cnbc.com/2018/04/05/how-bill-ackmans-hedge-fund-empire-crumbled-in-less-than-three-years.html. But we bet Mr. Ackman still managed to pay himself quite a lot during those 4 periods, despite the fact that he lost money every year for the last 3 years, and continues to lose money this year.

— Bill Ackman’s losing streak  

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