>Reputational risk prominent in Pershing Square investor letter
He also writes that he has recently decided to take public positions about issues affecting the hedge fund industry (see previous posting on this blog). He writes that it is “important for the hedge fund industry to come out of the shadows and defend the importance of our work.” He continues, ” If we and others (that includes hedge fund investors in addition to the managers) don’t do so, the industry, in my view, is at even greater risk of further regulatory, tax, and other legal changes that will materially harm our business models and industry.”
Ackman cites the short-selling ban as one example of misplaced regulation that the industry was powerless to stop.
Mr. Ackman, if more hedge fund managers follow your lead on reputation management, this blog will be out of business. Until then, we salute you.