Tuesday, 31 May 2016
Last updated 3 days ago
Jul 24 2013 | 9:29am ET
The disagreement between hedge fund managers Daniel Loeb and William Ackman over nutritional supplements company Herbalife hasn't featured the personal nastiness that the same dispute between Ackman and Carl Icahn has—until now.
Loeb, who called Ackman's claim that Herbalife is a pyramid scheme "preposterous" in January, has since sold most of his stake in the company at a healthy profit. But the Third Point founder is still paying attention, and couldn't help but notice that, after remaining in the money ever since Ackman announced Pershing Square Capital Management's short in December, the $1 billion bet has fallen into the red.
Loeb, who is known for his poison pen, also couldn't help ribbing his peer, changing his Bloomberg message header on Monday to read, "New HLF Product: The Herbalife Enema administered by Uncle Carl."
At least briefly: After his dig at Ackman was reported in the media, Loeb changed the header to read, "Always take the high road." Especially after you've been caught taking the low one.
Herbalife shares have enjoyed a consistent rally since Icahn took a stake in the company and joined its board.