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.