
Hedge Fund Question:
You are being interviewed by Ackman while the CNBC TV scrolls in the background. Suddenly at trader screams that Valeant is getting hit–THERE ARE more sellers than buyers! Ugly.

A technical analyst runs into the office yelling that he accidently read the chart upside down–Valeant is a SELL!
Many value investors have given up on their strategy over the last 15 years amid concerns that value investing no longer worked. However, some made small adjustments to their strategy but remained value investors to the core. Now all of the value investors who held fast to their investment philosophy are being rewarded as value Read More
Ackman turns to you with a worried expression and asks you to confirm or deny the trader’s statement. What do you say? You will be thrown from the 20th floor if you get this one wrong.
A SERIOUS QUESTION:
Is there one price or two prices at any one time in the marketplace? A transaction occurs at one price but what determines which of the two prices at any one time?