friendship

Andrew Ross Sorkin: Your short position on Herbalife — you’re betting against the company — has caused some friends like George Soros and Daniel Loeb to turn on you. Bill Ackman: Neither of the people you mentioned is, or has ever been, a close friend of mine. I certainly know the people you mentioned — but, look, you need a thick skin to be in this business. In a short sale, the whole world is going to be on the other side of the investment until they realize you’re right. [NYT, earlier]

Earlier today, Fox Business correspondent Charlie Gasparino reported that fund of funds manager Anthony Scaramucci “plans to ask his [SkyBridge Capital] investors if they want to remain in SAC.” For those who are unaware, up until this point Scaramucci has not only kept money with SAC, but been one of the few people willing to go on the record to vigorously defend Steve Cohen, telling the press back in May, “I have enormous amount of respect for the guy, and I think he’s misunderstood” and something about bombs, trenches, and friends who run in the direction of bullets (“A lot of guys, when bombs are going off, you figure out very quickly who your friends are in the trenches. Most friends run from bullets, but your best friends run toward them”). While it’s unclear if Scaramucci’s clients will decide to part ways with SAC, the fact that he’s reportedly even entertaining the very idea of giving them the option is nothing short of shocking. A punch in the stomach. A blow the ego. A shot through the heart. If Steve Cohen were on Twitter, it’s not out of the realm of possibility that he’d be tweeting:

@Scaramucci shot through the heart
@Scaramucci and you’re to blame
@Scaramucci you give fund-of-funds a bad name

Steve Cohen’s not on Twitter, but Anthony Scaramucci is. And right about now, he appears to be saying, “My investors may or may not pull their money but you and I? We’ve got to hold on to what we’ve got. It doesn’t make a difference if we make it or not. We’ve got each other and that’s a lot.” Read more »

When Mark Hughs founded a multi-level marketing company called Herbalife in 1980, he probably thought it had the power to do a lot of things. Help people lose weight. Makes others rich. Shake up the diet industry. What he mostly likely did not expect, however, was that his li’l company that could would reignite a feud between two billionaires that would devolve into a flurry of press releases quibbling over who was dying to be friends with whom, shouting matches on live TV, and, we predict, someone telling someone else he has a right mind to “Rip the eyes out of your head and piss into your dead skull! You messed with the wrong hedge fund manager!” Read more »

Because Mike Bloomberg believes in a little something called loyalty. Read more »