• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Cartoon of the Day: Hubris - Ackman cartoon 11.09.2015

In Greek mythology, Icarus, on wings made of feathers and wax, defies his father's warning and flies too close to the sun. The wax in his wings melts and Icarus falls to his death. In other words, hubris was Icarus' downfall.  

Uber-combative hedge fund investor Bill Ackman has been similarly burned. Not by the sun, but by Valeant Pharmaceuticals (VRX). Since Ackman's Pershing Square Capital disclosed it's stake in VRX shares are down almost 60%. 

Ouch.