The Anti–Pershing Square: How to Make Money in Health Care

Deerfield Capital is one health care fund that has thrived in a rough environment.

Rear View Of Doctors Talking As They Walk Through Hospital

William Ackman’s decision to finally throw in the towel on his Valeant Pharmaceuticals International investment after the embattled drug company’s stock helped to destroy his hedge funds’ performance is a painful reminder of the huge damage health care–related stocks have inflicted on many hedge funds, especially those that specialize in or have been heavily weighted toward the sector.

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