Bill Ackman is betting that the FTC will act to shut down Herbalife, a seller of fitness and weight-loss supplements, as a pyramid scheme. To convince the FTC, he hired a prominent law firm to "gift wrap" a case for the them. His plan is to embarrass the agency into action. A columnist at Forbes is sympathetic:
Check out Ackman's three-hour PowerPointpresentation. Search on the term "FTC" and it becomes pretty clear who his primary audience is.
Should the rest of us short the stock as well? It is still a long way above zero.
The business of distributing Herbalife products is all too often a losing proposition, and only those able to perpetuate recruitment chains have a shot at the rich rewards the company dangles before the gullible. The odds of success are lower than Herbalife represents.
Check out Ackman's three-hour PowerPointpresentation. Search on the term "FTC" and it becomes pretty clear who his primary audience is.
Should the rest of us short the stock as well? It is still a long way above zero.
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