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Valeant’s rise and fall offers hard lessons from the momentum playbook Add to ...

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Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Bill Ackman recently dumped his fund’s stake in Valeant Pharmaceuticals International Inc., which ended a distressing period for his investors.

While it might be tempting to use the opportunity to wallow in an ocean of schadenfreude, it’s more useful to step back and to try to learn from his misfortune.

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