The Presidential Daily Brief

important

  1. Creative Commons

    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.

This story is part of The Presidential Daily Brief

view full edition