Popularized in films like Limitless, legal smart drugs called Nootropics are becoming more and more prevalent in board rooms and on Wall Street.Keep reading »
As you’ve probably heard by now, Bill Ackman gave a little presentation yesterday, on his favorite supplement and diet shakes company, Herbalife. Prior to the event, the Pershing Square founder appeared on CNBC hyping up the thing so hard that he came extremely close to promising video of CEO Michael Johnson threatening to fire employees who refused to snort lethal dosages of Formula 1 Healthy Nutritional Shake Mix (Wild Berry flavor) up their noses. So when the presentation failed to deliver, the disappointment across Wall Street was palpable. Pershing Square investors, however, know a good thing when they see it, and are unfazed.
“We are long-term investors—his track record is amazing,” said Bryan Schneider, a Pershing Square investor at EnTrust Capital, which manages $11.6 billion in hedge fund assets for more than 400 institutional investors. “Yesterday’s move was mostly a recovery of losses from selling in advance of the presentation. There was no single ‘a-ha’ moment, so I think people were saying ‘I don’t know why we went crazy selling off.'” […]
While investors were supportive of Pershing Square overall, there were mixed feelings on the Herbalife presentation. “When you state that, ‘this is going to be the most important presentation of my career,’ it had better be! That said, many of his seeming losers have eventually turned into winners,” one of the investors said, noting MBIA and Ambac Financial Group.