The Presidential Daily Brief


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    Sequoia Fund Investing Legend Bob Goldfarb Resigns

    Did he fall on his sword? The 71-year-old leader of the well-known investment product, which has underperformed 98 percent of its peers since January, is stepping down. Goldfarb’s 36-year tenure at the helm comes to a close after his mutual fund suffered huge losses — to the tune of 25 percent of the fund’s value since 2015 — following heavy investments in Valeant Pharmaceuticals International. Concern over the venerable fund’s reputation has prompted action, and Goldfarb will retire at the end of the month.

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