After a more than 18-month crusade to bring down Herbalife, the company he believes is “the greatest pyramid scheme of all time,” hedge fund manager Bill Ackman gave what promised to be his biggest presentation on the stock yet.
But Ackman’s presentation to a packed house at an auditorium in midtown Manhattan Tuesday fell flat, dragging on for three and a half hours and not delivering the smoking gun many observers of the Herbalife saga had expected. There were, however, plenty of crazy moments to keep things entertaining, such as:
His dad asked how close Pershing Square is to proving that Herbalife is a pyramid scheme.
7. When Ackman cried.
“That’s a first!” a hedge fund manager in the audience told BuzzFeed when Ackman started tearing up. It’s actually not.
Richard was referring to photos used in the presentation when she cited Facebook as a heavily relied upon source in her research, not the information she uncovered in her exhaustive investigation of Herbalife.