Bill Ackman's hedge fund, Pershing Square, lost over 25 percent in first quarter and the billionaire investor is still bearish on shares of Herbalife (HLF) . The fund has a short position on the stock, yet Herbalife shares rose 15 percent so far this year. Pershing also suffered severe losses from its stake in troubled pharmaceuticals giant Valeant Pharmaceuticals (VRX) . TheStreet's Scott Gamm speaks with RealMoney writer and analyst James Passeri.
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