It was reported that several hedge funds lost big when Walgreens decided not to re-incorporate in a foreign country in an effort to dramatically lower their U.S. taxes. They were consulting Walgreens to leave the U.S., were betting on a positive bump in the stock after the announcement, and were stunned by Walgreens reversal. Gee, don’t you just feel terrible for those Wall Street vipers? I guess there will be no remodeling of their East Hampton beach houses this year.
Tuesday, August 19, 2014
Hedge Funds And Walgreens
It was reported that several hedge funds lost big when Walgreens decided not to re-incorporate in a foreign country in an effort to dramatically lower their U.S. taxes. They were consulting Walgreens to leave the U.S., were betting on a positive bump in the stock after the announcement, and were stunned by Walgreens reversal. Gee, don’t you just feel terrible for those Wall Street vipers? I guess there will be no remodeling of their East Hampton beach houses this year.
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