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Bill Ackman Explains Himself as Pershing Square’s Portfolio Soars

Hedged during the worst of the downturn, Pershing Square then went bullish.

Bill Ackman’s prescient worries about the novel coronavirus helped his Pershing Square Holdings turn in a stunning double-digit performance during March as the markets slipped into bear territory.The publicly-traded fund, now Ackman’s largest, is up 3.3 percent for the year after rising 11.1 percent in April. The Dow Jones Industrial

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