Billionaire hedge fund investor Bill Ackman has told shareholders he has chosen to sell his fund's investment in Netflix despite losing almost $600 million in three months.Netflix's stock has plummeted in recent days after an earnings report revealed 200,000 subscribers had left the streaming giant, marking the first-time subscriber numbers fell in more than a decade.Mr Ackman's Pershing Square Capital Management became one of Netflix's largest shareholders in late January this year. Based off market disclosure at the time – and Netflix's current stock price – it is estimated that Pershing Square lost around $US430 million ($596 million) on the deal.
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