My point is why did he exit, I know what's happening and I don't think 35% is a very big deal during a crash/crisis to realize a loss of a stock you believe in, unless you are leveraged, or you think this is the tip of the iceberg, or anything that makes you re-evaluate the investment and change course. There is hedging too.
At the end of the day it's a 5% loss if he manages 10bn, lots of money but not the end of the world, and definitely not enough to mock Ackman.
https://www.barrons.com/articles/ho...navirus-crisis-51585147940?mod=article_inline

