Forbes – Billionaire hedge fund manager William Ackman chose the morning of the last day of July to announce his biggest investment ever, a $2.2 billion bet his Pershing Square hedge fund made to take a 9.8% stake in Air Products & Chemicals APD +0.67%. Then things fell apart.
An activist investor running a $13 billion hedge fund, Ackman is a big swinging type of investor who tries to hit huge home runs with each of his concentrated investments in his relatively narrow portfolio. But two of his biggest investments tanked on Wednesday.
