Bill Ackman's credibility has sunk to a new low.

The billionaire's investment firm lost $4 billion on a drug company. Its stake in a burrito maker went south. J.C. Penney Co. has been a disappointment, and Ackman was forced to shift strategy on Herbalife, which hasn't tanked as he said it would.

The latest fail is Automatic Data Processing Inc. Shareholders rejected the three board candidates put forth by Ackman's Pershing Square Capital Management, including Ackman, the company said. Instead, they handed victories to CEO Carlos Rodriguez, who during the proxy campaign called Ackman “a spoiled brat” and accused him of negotiating like “a used-car salesman.”

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