Loeb Needles Ackman Over Herbalife Loss

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.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...