Loeb Sticks Another Finger In Ackman's Eye

Aug 14 2013 | 8:55am ET

So much for the high road.

A few weeks after Third Point's Daniel Loeb used his Bloomberg message header to tweak his former friend, Pershing Square Capital Management's William Ackman, he's at it again.

"Never interfere with an enemy when he is in the process of destroying himself," Loeb wrote, quoting Napoleon Bonaparte. The message comes amidst more bad news for Ackman, with nutritional supplements company Herbalife—which Ackman has a $1 billion short bet against—surging and a nasty spat with the board of J.C. Penney Co.—the struggling retailer in which Ackman is the largest investor—that led to Ackman's resignation as a director.

The latest shot at Ackman is at least much less graphic than Loeb's last, in which he wrote, "New HLF Product: The Herbalife Enema administered by Uncle Carl," referring to Carl Icahn, a longtime Ackman nemesis who has invested heavily in Herbalife. Loeb later changed that header to read, "Always take the high road."

At least for a few weeks.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note