Bill Ackman turned $27 million into $2 billion betting against the corporate bond market. Time and time again he has proven the doubters wrong. Full disclosure, Ackman was a personal mentor of mine several years ago. Naturally, my opinions about him are slightly biased. In the last few years, his fund has gone through a rough patch. The fund experienced some intense losses on positions like Valeant Pharmaceuticals, Herbalife, JCPenney, and a few others. Despite these losses, his fund returned 58% last year. This previous last week we saw Bill Ackman make an appearance on CNBC. He made his views extremely clear. Ackman says,” hell is coming.” Right after he made that appearance he sold off his corporate bond hedge.