• 04 Mar 2014 at 3:42 PM

Bill Ackman Doing Alright For Himself This Year

No one has made Herbalife “disappear” yet, as he recently requested, but Pershing was up 11.7 percent through February, and that’s something worth celebrating. Not crying tears of joy over, but raising a glass to, nonetheless. You want wet, raw, uncontrollable displays of emotion, you’re going to need to take Herbalife out in the middle of the night.

Ackman’s gains in February were driven in part by his near-10 percent stakes in both Fannie Mae and Freddie Mac — where he has become the largest common stockholder outside the US government. Both stocks had a surge in late February after a federal court issued a ruling in favor of preferred shareholders, who are suing the US government over its decision to return all profits to the government in defiance of its earlier agreement…Other stocks of Ackman’s that outperformed the broader market in February include Air Products, which jumped 15 percent; Howard Hughes, which gained 11 percent; and Burger King, up 9 percent. Last month, shares of Ackman’s controversial Herbalife short gained 3 percent, but the stock is still down 15 percent for the year.

Pershing continues big turnaround in 2014 [NYP]

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Comments (9)

  1. Posted by Customer's Yacht | March 4, 2014 at 3:45 PM

    Ackman does well for himself every year.
    It's the clients who cry salty tears when they see HLF go higher.

  2. Posted by Uncle C. | March 4, 2014 at 3:46 PM

    This prose…It's so eloquent.

  3. Posted by guest | March 4, 2014 at 3:46 PM

    tough but fair.

  4. Posted by guesticles | March 4, 2014 at 3:47 PM

    " wet, raw, uncontrollable displays of emotion"? I thought this was a family friendly blog!

  5. Posted by Aum gathering | March 4, 2014 at 4:16 PM

    Well it is not isolated in one fund so if these figures are to be believed…

    There was an excellent piece by Matt yesterday reviewing a white paper by Asness that reflected your sentiment well though. Convincing thesis being all fund management with outside investors is an AUM play.

    This is a high watermark for hack if I am not mistaken.

  6. Posted by guesties | March 4, 2014 at 4:18 PM

    always with the crying.

  7. Posted by UFO | March 4, 2014 at 4:30 PM

    Tough? No no no, I don't think you understand.

    That's the business model.

  8. Posted by UFO | March 4, 2014 at 4:37 PM

    Right? Him and John Boehner (pronounced 'boner'). What gives?

  9. Posted by Toe-Mah-Toe | March 4, 2014 at 5:00 PM

    bay-ner*