Valeant: Position Crowding, Intrinsic Value – an Update20160608130525
Valeant: Position Crowding, Intrinsic Value – an Update
In January, we wrote a post on Position Crowding and Valeant – the poster child in 2015 for a crowded hedge fund name. One of the points we made was that “intrinsic value” can be highly uncertain when it’s based on forecasts of earnings and cash flow. We expanded on this when we wrote about how va...