Pershing Square Holdings, Ltd. Releases Letter to Shareholders
In a letter to shareholders, Invoice Ackman reveals that he has bought the whole thing of his fund’s funding in Netflix that he made in January, saying “adjustments within the firm’s future subscriber progress can have an outsized affect on our estimate of intrinsic worth,” and that “Whereas we imagine these enterprise mannequin adjustments are wise, this can be very troublesome to foretell their affect on the corporate’s long-term subscriber progress, future revenues, working margins, and capital depth.”
