Ackman Makes It A Threesome In Valeant, Allergan Relationship

What is clear in William Ackman’s recent incarnation of the dating game is that he is blazing trails with a new activist hedge fund strategy: legal insider trading that leverages his growing “tough guy” reputation. Ackman is the relationship’s third wheel If Herbalife Ltd. (NYSE:HLF) does go down in regulatory flames, who becomes the toughest intimidator on the street?  Ackman or Icahn? I predict at the end of this year, Ackman will be wearing the toughest activist investor “crown,” the one most feared by corporate boards. Even if Herbalife Ltd. (NYSE:HLF) remains whole after a savage beating at the hands…