If we can’t bring you ideas to make you tons of money, at least we’re going to attempt to entertain you. If you haven’t tuned in yet, you should. Wall Street is now re-enacting the equivalent of
King Kong vs. Godzilla (1962) – IMDb
I’m talking about the Herbalife battle. We now have a small position in this stock, more from entertainment value than investing. I have always believed that Herbalife was a MLM scam but never did I think it was a Ponzi scheme. I just assumed many people are idiots. After all the vitamin and nutritional supplement business is a multi billion dollar business with limited proof of efficacy. But I agree with Loeb, it’s probably not going to be shut down by the U.S. Government. I will also note that the COO of the company, Herbalife, recently bought $3.1 million dollars worth of the stock and I doubt if he would have done that if he felt it was all a big scam. But read on folks, as it doesn’t get much better than this:
BY MICHAEL J. DE LA MERCED AND ANDREW ROSS SORKIN
Herbalife
Herbalife, a maker of nutritional supplements and protein bars, recruits others to do its selling.
10:21 p.m. | Updated
They are two of the richest and most prominent hedge fund managers in Manhattan.
About the same age and athletic build, they favor brash, headline-grabbing investments. They make the rounds in New York charity circles. They live blocks apart in luxury buildings on the Upper West Side. They spend summers not far from each other in mansions in the Hamptons.
Yet, they find themselves locked in a battle over, of all things, a nutritional supplements company that makes protein bars and energy shakes.
via Just Business: 2 Hedge Fund Rivals Clash Over Herbalife – NYTimes.com.