Fri, Oct 9, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Ackman talks Herbalife, JC Penny in latest investor letter

Wednesday, August 21, 2013

Bailey McCann, Opalesque New York:

Activist hedge fund manager Bill Ackman may be $300 million in the hole on his Herbalife short bet, but he's standing by it according to his most recent investor letter. Ackman has been in the news lately over both Herbalife and JC Penny, but his conviction remains strong.

ValueWalk has posted the full text of the letter, which covers a broad range of topics. Notably, on his Herbalife bet, he has this to say - "There have been a number of positive developments that should increase the probability of an FTC investigation including members of Congress and other members of state and local government and consumer advocates publicly urging the FTC to investigate Herbalife through the public release of letters to the FTC Chairwoman as well as private meetings with the FTC’s staff that have been reported in the press."

He further writes that the new rules instituted by Herbalife management to prohibit new lead generation and discourage the use of loans, merely give the appearance that the company is working to curb some of its questionable practices. "We view the Company’s rule changes as a tacit admission that past practices have been improper," he writes.

John Peterson, top salesman at Herbalife died from an apparent suicide at the end of last week, according to a ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  2. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  3. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  4. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko

  5. Hedge funds relatively resilient in Q3[more]

    Komfie Manalo, Opalesque Asia: Hedge funds fell in the third quarter as market conditions remain challenging, but still outperformed the S&P 500. The Lyxor Hedge Fund index was down 3.6% during Q3 while the S&P 500 fell 8.2%. According to Lyxor, "hedge funds were quite resilient in Q3. Falling en