It’s good to be a rock star investor these days, particularly if you are betting against a company..
January 1, 2013 - 8:21pm
By DealbookIt’s good to be a rock star investor these days, particularly if you are betting against a company.Celebrity investors like William A. Ackman of Pershing Square Capital Management and David Einhorn of Greenlight Capital can move a stock by the billions of dollars simply by disclosing their bet. It’s something ordinary investors can’t do, which gives these star investors a tremendous advantage. But it also makes the truth about a company harder to discern.Take the case of Herbalife. About two weeks ago, Mr. Ackman gave an impressively lengthy, 343-slide presentation on Herbalife at an event sponsored by the Sohn Conference Foundation in Manhattan.Continue reading this article »