Pershing Square Punished In July, Down 2.2%

http://www.finalternatives.com/node/24365

A terrible month for two of its largest positions doomed Pershing Square Capital Management to a red July. The New York-based hedge fund fell 2.2% on the month. The firm was burned by its $1 billion short bet against nutritional supplements company Herbalife, whose shares soared 40% in July, and its big long bet on retailer J.C. Penney Co., whose shares dropped 17% on the month.

The New York-based hedge fund fell 2.2% on the month, Reuters reports. The firm was burned by its $1 billion short bet against nutritional supplements company Herbalife, whose shares soared 40% in July, and its big long bet on retailer J.C. Penney Co., whose shares dropped 17% on the month.
Pershing Square, which manages $12 billion, has suffered at least $300 million in losses on Herbalife, which the hedge fund's founder, William Ackman, has called a "pyramid scheme."

This market even burnes the fat cats, be very careful out there with YOUR money.