Pershing Square Herbalife Analyst Dinneen Resigns

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Jan. 29 (Bloomberg) -- Bloomberg's Tom Orlik and Stephanie Ruhle discuss the resignation of Pershing Square Capital analyst Shane Dinneen who had done much of the original work on the firm’s money-losing bet against Herbalife. Orlik and Ruhle speak on Bloomberg Television's "Bloomberg Surveillance." (Source: Bloomberg)

Make a living out of reading the herbalife tea leaves.

He is one of bill ackman's top guys.

It was a shame standing beside him when he presented his first short.

He is not coming out saying i do not believe in this trade.

He is not going to work for carl icahn, he has made a lot of money working for bill ackman.

He might just be taking a breather.

There are not as investors -- there are not a lot of investors out there with thick skin like bill ackman.

Bill ackman no longer has a naked short position on herbalife, he had to close out.

He has adjusted his position, it is a smarter way to have the trade off.

He has said i will take this trade till the end of the earth.

He has not changed his view, he still says the analyst is one of the best he ever worked with.

The analyst has not come out and said anything that he is changing his the honorable life.

He is taking his money and going home.

I would like to do that.

Also joining us is tom orlik.

The big complaint with herbalife, is it a paramedic scheme?

-- a ypramid -- is it a pyram schemeid?

We have seen u.s. investors taking a negative view of chinese companies.

Because of the lack of transparency, investors are not prepared to place a faith in them.

Another direct marketing company got hit recently because there was an editorial in a chinese paper about it being a pyramid scheme.

When we saw the news, it hurt herbalife and it was a positive -- it was a positive for bill ackman.

Saying this is a pyramid scheme.

It is a regulatory short in the hands of the government.

What are they going to say?

Bill ackman stands alone, whether we are talking to and love, bill steer it's -- talking dan loeb, bill stiritz.

I have never seen anyone willing to take traits to the end of the earth.

We saw the canadian government, a senator.

Bill ackman does not seem alone and regulators.

Things are finally starting to move in the right direction.

Does he have the patience, are his investors going to continue to ride this?

He has had big wins, herbalife is not his only trade.

Tom, when you look at what is going on in china, we mention how herbalife is under attack.

What is the chinese government's position on direct marketing companies?

They viewed him with a certain amount of suspicion, as rival organization.

Almost like a type of political organization.

A political threat?

It sounds paranoid, but at the back of the mind of some people that is a potential issue.

The bigger question is the political risk for foreign companies operating in china.

Over the last couple years we have seen everyone from yu m! to apple come under attack from the press and regulators.

Now, so much of their earnings is coming from china, when that sort of things happen, it can be a problem.

Direct marketing companies might be creepy but they are not illegal.

Blackmun says look at the founders circle -- bill ackman says look at the founders circle.

Are the regulators going to say there is something illegal?

Was in that part of the problem that the senator raised?

People lost money being part of the distribution.

That is bill ackman's argument.

Stephanie ruhle of "market makers," thank you for joining us.

Coming up on "market makers," greg fleming, president of morgan stanley wealth management will be joining stephanie and erik at 10:00 a.m. fomc decision coming out this afternoon.

Futures up slightly -- they are

This text has been automatically generated. It may not be 100% accurate.


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