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ValueAct Plunges, Then Surges, on Financials

The market’s December downturn hurt the hedge fund last year, but a surge in financial stocks this month has helped it to rebound.

Jeff Ubben’s ValueAct Capital is the latest example of a high profile long-oriented hedge fund that suffered a sharp loss for the year after the market’s December swoon.The hedge fund firm — which until then had been enjoying a strong year — finished down 11 percent in 2018, with virtually

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