Friday, February 11, 2011

Hedge fund financier acknowledges $125 million loss on Borders investment

AnnArborDOTcom: "One of the top investors in Ann Arbor-based Borders Group Inc. acknowledged that his New York-based hedge fund has lost $125 million on its investment in the book store chain, Bloomberg BusinessWeek is reporting. Activist investor Bill Ackman of Pershing Square Capital Management 'admits' the Borders investment was a mistake, the magazine says in a lengthy profile story. ... "