The top 100 hedge funds averaged a return north of 10.5% in 2015, and the three-year average is a tad below 17%. Meanwhile, there are a lot of equity-long-short funds, indicating that good stock pickers are still around.

“Valeant was a sewer, and those who created it deserved the opprobrium they got.”

"As you would expect, we will fully cooperate with the committee's requests."

Valeant Pharmaceuticals International said on Friday that Goldman Sachs sold 1.3 million shares of Valeant on Nov. 5 that were securing loans made to its CEO Michael Pearson.
Hedge fund mogul William Ackman told his investors on Friday that he was confident in his bet on Valeant Pharmaceuticals.