Bill Ackman Defends His Action on Herbalife (HLF)
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In a CNBC interview, Bill Ackman defended his action on Herbalife (NYSE: HLF) after an attack from Carl Icahn on the approach he took.
Ackman notes that Mr. Icahn used the same conference (Ira Sohn) in 2002 and 2003 to discuss some of his short positions.
Ackman said shorts "are a wonderful thing for the market" and continues to view Herbalife as a "pyramid scheme."
Commenting on Dan Loeb taking the other side of his Herbalife bet, Ackman said he believes this was a short term bet by Loeb and said if Loeb continues to hold his long position over time he will lose it all.
Ackman notes that Mr. Icahn used the same conference (Ira Sohn) in 2002 and 2003 to discuss some of his short positions.
Ackman said shorts "are a wonderful thing for the market" and continues to view Herbalife as a "pyramid scheme."
Commenting on Dan Loeb taking the other side of his Herbalife bet, Ackman said he believes this was a short term bet by Loeb and said if Loeb continues to hold his long position over time he will lose it all.
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