Wednesday, 1 October 2014
Last updated 1 hour ago
Nov 1 2013 | 1:29pm ET
Just under a year after launching his attack on nutritional supplements company Herbalife, Pershing Square Capital Management's William Ackman will go back on the offensive after a difficult few months.
Ackman plans to make his second major presentation about the company at the Robin Hood Investment Conference later this month. In December, Ackman threw down the gauntlet at Herbalife, calling it a pyramid scheme and predicting it would be shuttered by federal regulators.
Herbalife and several hedge fund nemeses of Ackman's, notably Carl Icahn and Third Point's Daniel Loeb, took up the challenge, and have had by far the better of the battle so far. While Ackman posted gains early in his Herbalife bet, the company's stock price has nearly doubled this year, and Ackman restructured his $1 billion short bet against the company in September to cut risk. Pershing Square currently has a $500 million paper loss on its Herbalife investment.
But Ackman hasn't given up on Herbalife, reiterating in a speech this week at Oxford University his conviction that the company will collapse. Now, according to CNBC, he'll offer new information about Herbalife at the Robin Hood conference.
That new information was gleaned from conversations with several former Herbalife employees, CNBC reports.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...