Quote from lwlee:
Ackman ain't stupid. By this point, he's probably sold out a bunch for a profit or hedged himself.
Had he been smart, once the stock went below 30$ he would have switched back to long and declared "sorry, I was wrong", and had made a gazillion on the long side.
After all you can only make 100% by shorting a stock. ( I know he used options too) The point is, a stock can go to zero slower than you can stay solvent and you can make more money on the long side...
I don't buy his BS that he did the exposure for the greater good...


