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21-02-2014, 02:59 PM
Not only is he big mouth he is now classic fall-in-love-with-trade syndrome. I'm surprised that his HKD position is not listed as one of the major losers
BFW 02/20 20:21 *PERSHING SAYS HERBALIFE SHORT BIGGEST LOSER SINCE FIRM STARTED
BN 02/20 20:20 *PERSHING SQUARE DETAILS BIGGEST WINNERS, LOSERS IN PRESENTATION
BN 02/20 20:20 *PERSHING SAYS HERBALIFE SHORT BIGGEST LOSER SINCE FIRM STARTED
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Pershing Says Herbalife Biggest Loser Since Firm’s Inception (1)
2014-02-20 21:31:26.592 GMT
(Updates with biggest winners in third paragraph.)
By Kelly Bit
Feb. 20 (Bloomberg) -- Pershing Square Capital Management
LP’s bet against the shares of Herbalife Ltd. has become the
biggest loser for the activist investment firm since its
inception in 2004 with a loss of 49 percent, according to a
presentation obtained by Bloomberg News.
Pershing said J.C. Penney Co. and Citigroup Inc. are the
next-worst wagers, according to the Feb. 13 presentation by the
$12 billion hedge-fund firm. Bill Ackman, founder of New York-
based Pershing, has spent more than a year saying Herbalife, a
marketer of vitamins and weight-loss shakes, is a pyramid
scheme.
Ackman outlined his biggest winners and losers after the
firm rose 9.7 percent in 2013 in its oldest fund, Pershing
Square LP and posted an annualized return of 19 percent since
inception. His best-performing bets are General Growth
Properties Inc., Canadian Pacific Railway Ltd. and Fortune
Brands Home & Security Inc., according to the presentation.
“Since inception, substantially all of our profits have
come from investments in large cap,” the firm said in the
presentation. “Large cap shareholder activism is one of the few
strategies where scale is an advantage.”
Ackman, 47, sold short the stock of Herbalife in 2012 in a
$1 billion wager that the company’s value would plummet. He said
in a November interview on Bloomberg Television that he “will
take this to the end of the earth.” The presentation notes that
Herbalife has lost 15 percent this year, after gaining about 145
percent in 2013, including reinvestment dividends.
Fran McGill, a spokesman for Pershing Square with
Rubenstein Associates, declined to comment on the presentation.
BFW 02/20 20:21 *PERSHING SAYS HERBALIFE SHORT BIGGEST LOSER SINCE FIRM STARTED
BN 02/20 20:20 *PERSHING SQUARE DETAILS BIGGEST WINNERS, LOSERS IN PRESENTATION
BN 02/20 20:20 *PERSHING SAYS HERBALIFE SHORT BIGGEST LOSER SINCE FIRM STARTED
+------------------------------------------------------------------------------+
Pershing Says Herbalife Biggest Loser Since Firm’s Inception (1)
2014-02-20 21:31:26.592 GMT
(Updates with biggest winners in third paragraph.)
By Kelly Bit
Feb. 20 (Bloomberg) -- Pershing Square Capital Management
LP’s bet against the shares of Herbalife Ltd. has become the
biggest loser for the activist investment firm since its
inception in 2004 with a loss of 49 percent, according to a
presentation obtained by Bloomberg News.
Pershing said J.C. Penney Co. and Citigroup Inc. are the
next-worst wagers, according to the Feb. 13 presentation by the
$12 billion hedge-fund firm. Bill Ackman, founder of New York-
based Pershing, has spent more than a year saying Herbalife, a
marketer of vitamins and weight-loss shakes, is a pyramid
scheme.
Ackman outlined his biggest winners and losers after the
firm rose 9.7 percent in 2013 in its oldest fund, Pershing
Square LP and posted an annualized return of 19 percent since
inception. His best-performing bets are General Growth
Properties Inc., Canadian Pacific Railway Ltd. and Fortune
Brands Home & Security Inc., according to the presentation.
“Since inception, substantially all of our profits have
come from investments in large cap,” the firm said in the
presentation. “Large cap shareholder activism is one of the few
strategies where scale is an advantage.”
Ackman, 47, sold short the stock of Herbalife in 2012 in a
$1 billion wager that the company’s value would plummet. He said
in a November interview on Bloomberg Television that he “will
take this to the end of the earth.” The presentation notes that
Herbalife has lost 15 percent this year, after gaining about 145
percent in 2013, including reinvestment dividends.
Fran McGill, a spokesman for Pershing Square with
Rubenstein Associates, declined to comment on the presentation.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Think Asset-Business-Structure (ABS)