The last two years were just a warm-up.

The cost of maintaining a position in options that profit from a drop in Herbalife shares has declined “substantially” since Herbalife canceled its dividend, Ackman said in his quarterly letter to investors dated today. Most of the over-the-counter contracts Pershing currently holds will expire next year. “We will extend their terms by paying additional premiums if it is necessary to do so,” Ackman wrote in the letter, which was obtained by Bloomberg News.

Ackman Says Pershing Will Extend Herbalife Short Bet If Needed [Bloomberg]

2 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (2)

  1. Posted by Joe | August 13, 2014 at 2:13 PM

    While the media and short-term investors seemed to ignore our presentation as evidenced by the stock’s rebound that day, we did achieve our objective in increasing attendance. Nearly 30,000 logged on to the presentation including individuals from 154 countries, with more than 9,000 viewers remaining for the entire three hours. This compares to our previously highest-watched webcast, our Herbalife China presentation, which had 1,100 viewers. Subsequently, the recorded webcast presentation has been watched by tens of thousands of additional viewers including regulators, Herbalife employees (174 logged on from HLF headquarters in California), and likely thousands of Herbalife distributors from around the world.

  2. Posted by UBS spending quant | August 13, 2014 at 6:14 PM

    you got to spend money to make money…right?