Mon, Oct 24, 2016
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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion