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Acting Up

ValueAct’s Jeffrey Ubben shows that activist investors needn’t be loud and annoying to be effective.

By Irwin Speizer   Jeffrey Ubben: Value stocks plus activism is the strategy (Photographs by Thomas Borening) When ValueAct Capital, an $8 billion hedge fund firm in San Francisco, went scouting for investment targets a few years ago, it spotted Valeant Pharmaceuticals International, a Montreal-based drugmaker. Valeant looked like an underappreciated

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