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...
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