Apology letter? SEQUX has always held concentrated positions. This one is not working out for now, but time will tell. I think they remain a fine fund, great analysts and BOD, and I imagine they will use this opportunity as a long term sunk cost and education.
Yes, I noticed that. I guess my calculations were incorrect. Although, the potential exists that the author was incorrect, and passing on info from old Sequoia letter. Of course much of the annual letter, and annual meeting will have a Valeant focus.
I have been following Sequoia Funds (SEQUX) percentage movement in relation to Valeant's. It seemed to have a fairly consistent percentage change in relation to the market, until what seemed like a smaller than expected loss on Thursday (but not by a ton). I would have figured that VRX would have gained about 1% on Thursday, as VRX gained a little over 4% (IIRC), yet SEQUX was flat. This trend seemed to be the same for the last 4 trading days. We will find out with Sequoia's year end report.