Bill Ackman's Presentation on Shorting Herbalife (HLF)
From market folly
December 31, 2013 - 12:02pm
Playing catch up after the holidays, we wanted to make sure everyone had a chance to see Bill Ackman's presentation on his latest short position: Herbalife (HLF).
The Pershing Square Capital Management CEO gave the pitch at a recent special Ira Sohn event. In a very thorough and detailed presentation (334 slides), Ackman labels the multilevel marketing company a pyramid scheme.
Making the media rounds after his presentation concluded, Ackman noted that he has an "enormous" short position, over 20 million shares and that they began shorting around 7 months ago. While HLF shares originally plummeted from around $40 down to $25 on news of Ackman's short, they've since rebounded up to $32.
Some readers may recall that we also previously flagged when Greenlight Capital's David Einhorn surfaced on an Herbalife earnings call and started asking questions. His brief cameo caused th...Continue reading this article »