The short response: go fuck yourself. The slightly longer one: Read more »
An insider trading-shaped bone. Read more »
Remember, last week, when Bill Ackman gave a presentation about Herbalife, the company he is shorting? And the day prior, went on CNBC to announce the event, telling viewers they would learn “why Herbalife is going to collapse”? And described the presentation as “the most important” one of his career? And back at Pershing Square, told his advisors “fuck the webcast, I want to look into people’s eyes,” upgrading the talk to a live show at the AXA building in midtown? And made the case that, despite having spent hundreds of hours publicly excoriating Herbalife already, this was the event that people needed to see? And noted that he was “raising expectations” but “would not disappoint”? He realizes now it’s possible he should’ve dialed down the enthusiasm just a bit. Read more »
A question that many have asked themselves and others since Bill Ackman announced he was shorting shake and supplement company Herbalife is, “Okay, but for how long? When does it end?” The Pershing Square founder and his team could very well be right in classifying the organization as a pyramid scheme, but central to their argument is that the government is going to shut this thing down, and that might not happen. Will Pershing keep its position forever? Long after Bill retires and for many years after that? Will CEO Michael Johnson ever be free from this man who haunts his dreams or will Ackman always be there, watching, waiting? In an interview yesterday, the most passionate hedge fund manager to ever live said basically yes to the latter. Read more »
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. Read more »
Yesterday afternoon, hedge fund manager Bill Ackman made a bold statement. A presentation delivered live in midtown Tuesday morning was to be “the most important” one of his career and at the end of it, we would “learn why Herbalife is going to collapse.” On CNBC, he acknowledged that he was “raising expectations,” but assured the public it would not be disappointed. How’d he do? That all depends on what you were hoping for. If it was a PowerPoint that convinced the market that Herbalife, Ackman’s sworn enemy, was going down for the dirt nap, then technically, the hedge fund manager probably disappointed you a little.
Herbalife Ltd.’s shares jumped as much as 14 percent after hedge-fund manager Bill Ackman struggled to convince investors that the seller of weight-loss shakes is guilty of fraud.
On the other hand, if you were hoping for a presentation filled with passion, courage, feeling, and above all, patriotism, your expectations were met and then some. Read more »
Hedge fund manager Bill Ackman has given many momentous presentations in his day: the unveiling of his Herbalife short, his highly emotional address of Target shareholders, and all matters of MBIA. But believe him when he says such things will absolutely pale in comparison to tomorrow’s event. Forget the thousands of hours he’s already spent publicly lambasting Herbalife’s business practices in the past. THIS is the one you REALLY have to listen to. It will be the final word on diet shakes. Read more »