Hedge Funds

The day the Feds start listening to Ackman and shut down Herbalife will surely take the cake, but until then, this will have to do: 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 »

October 17, 2012: “In addition to a five-story, 850,000-square-foot office, the campus for Bridgewater Associates calls for a helipad, a floating recreational barge, a restored estuary and a marina…Made up of two long, curved buildings joined in the center by bridges and paths, the structure is poised to become the most striking presence on the Stamford coastline. The project’s goal, according to the coastal site plan application, is ‘to house a corporation in an environment that fosters personal interaction and a strong connection to the living world.’” June 27, 2014: “After careful examination and reflection surrounding the challenges, time, energy, and resources needed to bring the proposed Stamford project to completion, we have decided not to proceed with the move.” [AP]

  • 25 Jun 2014 at 11:53 AM

Bill Ackman Doing Okay For Himself This Year

Not only have he and Carl Icahn forgiven each other, but his fund has done pretty well, too. If Herbalife would just fall off a cliff, he’d consider it a hattrick. Read more »

Apparently not everyone is interested in sticking around for the chance to manage Steve Cohen’s second cousins’ money, or for the new zip-ups and other assorted swag. Read more »

On Monday, Paradigm Capital Management became the first investment fund to pay a fine for retaliating against an employee who reported his firm’s misdeeds to the S.E.C. The hedge fund, which is based in Albany, N.Y., and manages $1.5 billion of client money, agreed to pay $2.2 million to settle the civil charges…Mr. Nordgaard was head trader at Paradigm Capital from 2009 to August 2012, when his contract was terminated. Mr. Nordgaard, who filed a lawsuit against the firm in 2012, said that shortly after he told his employer that he had reported trading violations, Paradigm Capital “embarked on a campaign of retaliation” against him. Days later, Mr. Nordgaard was removed from his desk and stripped of his trading privileges, according to the lawsuit. He was then assigned to “an isolated location to do low-level compliance work”. [Dealbook]