Sleepy Stock Market
Bill Ackman spent five years and $760 million trying to prove Herbalife was a pyramid scheme β and lost. In December 2012, Ackman held a one-billion-dollar short position and delivered an eight-hour public presentation accusing the company of fraud. Carl Icahn took the opposite side, buying 25 million shares in January 2014, and turned Ackman's crusade into a $1 billion profit for himself. The FTC fined Herbalife $200 million in 2017 but never declared it a pyramid scheme β meaning Ackman was arguably right about the damage, and still lost everything on the trade. π§ Part of the Sleepy Stock Market series β financial history told as documentary audio. βββββββββββββββββββββββββββββ SLEEPY STOCK MARKET Fall asleep to the greatest stories in financial history. βββββββββββββββββββββββββββββ #BillAckman #Herbalife #CarlIcahn #HedgeFund #WallStreet #ShortSelling #FinanceHistory #Investing
30 episodios
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