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  "documentTitle": "Multiple (portfolio-level LP update: MDLZ, APD, ZTS, QSR, CP, HHC, VRX, PAH, NOMD, HLF short)",
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  "authorName": "Pershing Square",
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  "presentationDate": "2016-04-26 00:00:00",
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  "notes": "The slide highlights the massive value destruction of the investment.",
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      "kind": "callout",
      "text": "VRX stock has decreased 83% from our average cost at announcement date to April 21, 2016",
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      "text": "Stock price performance Valeant from 2/9/2015 to 4/21/2016",
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      "text": "Note: The performance of Valeant's share price is provided for illustrative purposes only at the investor's request and is not an indication of future returns of the Pershing Square funds. Source: Bloomberg.",
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