Long ago I thought that Bill Ackman's thesis on Herbalife was silly. It was "I am a billionaire hedge fund manager and I can get the government to help me".
A year later and Bill Ackman has managed to get a Senator to help him. Edward Markey (Democrat, Massachusetts) famously raised "the Herbalife issue". It whacked the stock.
I confess I might have been wrong.
Actually with respect to Markey I am wrong.
There are TWO versions of the Herbalife letter. One is from Bill Ackman's website.
Here is a picture:
You will note that it is dated January 22, 2014.
And one from Edward Markey's website:
It is dated January 23, 2014.
I would normally comment no further, but I can't help myself. You see the version the New York Post carried under the Michelle Celarier's byline is the Ackman version.
I gather the Kennedy Family consider themselves the rightful heir to Markey's seat. [It is the Kennedy's traditional seat.]
It can't hurt their cause that Markey is demonstrated to be the tool of billionaire Wall Street types.
PS. Hat tip http://twitter.com/TheSkeptic21
Thursday, January 30, 2014
The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.