Activist investor William Ackman has a lot on the line with his investment in Target. The head of Pershing Square Capital Management was once one of the brightest activist hedge fund stars, but the credit crunch has not been kind to him. Pershing Square IV, launched early last year with $2 billion, was designed to go after a single firm. It bought up a 10 percent stake and a whole lot of calls on Target. But the stock moved against Ackman in a huge way. He's way underwater on the calls and the first batch expires in 6 months, according to Forbes; so, he's a man in hurry right now. He'll present a Target turnaround plan this week in New York in a desperate bid to revive his fund.

For more:
- here's the Forbes article

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