Dan Loeb Goes Long Herbalife to Take on Bill Ackman

Jan. 9 (Bloomberg) -- Bloomberg's Julie Hyman reports that Daniel Loeb’s Third Point LLC took an 8.2 percent stake in Herbalife, becoming the latest firm to bet against hedge fund manager Bill Ackman, who has accused the direct seller of nutrition shakes of being a pyramid scheme. She speaks on Bloomberg Television's "Money Moves."

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