Today, billionaire hedge fund manager Bill Ackman of Pershing Square Capital gave a three-and-a-half-hour presentation about Herbalife, the company he has a $1 billion short position in, and which he’s spent $50 million to date trying to take down. Things got…weird.
Hedge fund manager Bill Ackman’s latest move has some praising him as a deal genius and others saying it is an example of everything wrong with corporate America, activist investing, and regulatory law.
The two government-supported housing giants were decimated by the financial crisis, and now in the face of a bipartisan effort to extinguish them, an ideological motley crew wants “respect” for their shareholders.
Hedge fund activist Bill Ackman’s crusade against Herbalife gets government boost.
New data from Activist Insight suggests that activist investing for 2014 is already shaping up to outpace last year, and the companies targeted represent a diverse group of industries.
Pershing Square Capital has launched a new website attacking former Herbalife employees. Experts say the hedge fund could be in questionable legal territory with its “unprecedented” move.
Massachusetts senator Ed Markey wrote letters to the Federal Trade Commission and the Securities and Exchange Commission: “There is nothing nutritional about possible pyramid schemes.”
This was the year the proxy battle turned ugly—and went mainstream.
Herbalife has fired back at activist investor and hedge fund titan Bill Ackman, who has been telling investors to sell its stock for nearly a year, with a tactic so aggressive that it could harm rather than help the supplement company.
He owns the common stock of the bailed out mortgage companies Fannie Mae and Freddie Mac and thinks the way shareholders are being treated is “uniquely reprehensible.”
Contentious hedge fund manager and activist investor Daniel Loeb is usually tight-lipped about the controversies that surround him. But at today’s New York Times DealBook Conference, Loeb dropped some bombs and addressed his critics, including George Clooney.
The controversial nutritional supplements company beat analysts’ expectations again but is still shelling out to fight the PR battle with its hedge fund antagonist.
That’s according to long-suffering shareholder and hedge fund manager Whitney Tilson, who told BuzzFeed the teen retailer’s turnaround under its new CEO — recruited from J.Crew — will be different from the Ron Johnson–J.C. Penney situation that burned him last year.
In his quarterly investor letter, Ackman described D.A. Davidson analyst Timothy Ramey as “perennially bullish” on Herbalife and said that investors think he’s “speaking on behalf of the Company.” Ramey today said in a note that Ackman has capitulated and is at higher risk of losing his entire $1 billion short bet.
“That company’s gone through a lot of angst with Bill Ackman having taken control, having recently sold his 20% block in the company,” a Vornado executive said of J.C. Penney at a Barclays conference on Monday.
Maybe J.C. Penney can go on the Shark Tank.
His bet on the beleaguered department store has gone horribly awry since his initial investment in October 2010.
Bloomberg has a huge report on the state of activist investing. Here’s the basic summary of some of the biggest campaigns, laid out in one simple chart.
The embattled hedge fund manager and activist investor Bill Ackman detailed his investment failings and mistakes in a letter yesterday, despite his firm’s decent performance.
J.C. Penney reported its second-quarter results today, and the biggest takeaway was that it’s essentially hitting the undo button on former CEO Ron Johnson’s tenure.
The company’s sales shrank another 12% in the second quarter after falling by 23% in the second quarter of last year. The $2.7 billion in sales compares with $3.9 billion two years ago.
The actions of hedge fund manager Bill Ackman have sent J.C. Penney into a three-year tailspin. Now that he is gone, the question everyone is asking is if the damage he inflicted is permanent.
UPDATED: A series of dramatic letters and erratic behavior by billionaire hedge fund manger Bill Ackman isn’t helping his activist investment efforts with J.C. Penney and Herbalife. His decision to resign from the board of J.C. Penney on Tuesday caps a year of public battles and strange moves, but is it too little, too late?
Activist investor and board member Bill Ackman is telling the world that he wants certain things for J.C. Penney. J.C. Penney is like, we are not at all happy with you.
Activist investor and board member Bill Ackman sent a letter expressing his frustration with the CEO search, according to a report from CNBC’s Scott Wapner.
Herbalife, a dietary supplement company that has captured the intense focus of three of the hedge fund world’s most influential investors, continues to rake in capital, most recently from George Soros. Four, if you count Daniel Loeb.
Carl Icahn, the 77-year-old billionaire activist investor, just joined Twitter. Will he tweet more than Warren Buffett?
Some of Wall Street’s top companies have come under fire from investors fed up with their current management and financial performance and agitating for change. Call it the golden age of the activist.