w levered some companies were and the reality that it's senior to you. I think terminal value and leverage risk explains a lot of the undoing of Valeant's equity. As the market cap shrank investors increasingly focused on this $31 billion bolus of debt and rather than thinking about it as a sourc

why the economy is in "muddle." Have there been situations that you sourced through ill-advised buybacks or rollup acquisitions? Anything like Valeant (VRX) or in healthcare more broadly? MC: Well.. not an authority on Valeant. There are people I respect who are long this thing. That said, the

to the question, • you get so rich, Bernard? By selling too soon." It's a great line, and I am the quintessential sell-too-soon guy. I was long Valeant and I was selling the stock when it was at $200. While I don't feel that bad now. I felt bad at $250. but that was me getting out early. I had b

billion in cash (trading +3.8%) • Chairman of SAB Miller South Africa steps down, consolidating SA & Africa into one (trading -0.46%) • Meda and Valeant terminate joint ventures in Canada, Mexico, Australia (will end in Q2) • Nestle's Peter Brabeck to step down as Chairman in 2017 according to Le Te

otes this week and raise REM for banks Wal-Mart loses two senior executives in China (CFO & COO in China resign to "explore other opportunities") Valeant (VRX) agrees to buy AB Sanitas for 0314 million to add dermatology drugs in Eastern & Central Europe Marks & Spencer reports broadly inline with ex