Ackman Says ‘My Bad’ on Herbalife Presentation
This article is for subscribers only.
Hedge fund manager Bill Ackman has two words to sum up his Herbalife Ltd. presentation last week: “My bad.”
Investors may have missed the point because the event was long and overhyped, Ackman said in an interview. Even the private researcher who helped convince Ackman the company is an illegal pyramid scheme now says the details of a two-year investigation into Herbalife’s nutrition clubs were largely ignored.