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.
At the end of the presentation and prior to the Q&A, Mr. Ackman got emotional, appearing to show tears as he told his own family’s history of finding success and proclaimed his love of America. Then he delivered a direct message to Herbalife’s CEO, saying he hoped he was listening. “Michel Johnson is a predator. This is a criminal enterprise,” Mr. Ackman said. “It’s time to shut this company down.”
If you're wondering why Ackman didn't finish the event by ripping off his shirt and tie to reveal the American flag painted on his chest, there is a simple explanation, which is that he's saving that particular flourish for the day he delivers Herbalife's eulogy from Madison Square Garden.
Related: Area Hedge Fund Manager Doesn’t Get Emotional About Investments Except The Times He Cries In Public About Them; Bill Ackman Does Not Act, Bill Ackman Feels Deeply (And Does Not Appreciate The Insinuation Otherwise, THANK YOU VERY MUCH)