The Best Part Of Bill Ackman's Presentation Was When He Served Everyone In The Audience Herbalife

Let it never be said that Bill Ackman lacks a sense of showmanship.

Today he presented his thesis for why Herbalife, a nutrition company with a multi-level marketing scheme, is an excellent short. He says that the company relies on sales-people to distribute the product to consumers, but since the consumers become sales people who then buy the product whole-sale, the company isn’t bringing in enough revenue.

That’s a basic pyramid scheme. To keep it going, Herbalife needs more salespeople all the time.

After the presentation, Ackman invited everyone to try Herbalife’s array of shakes and juices (you can check out the picture below). Business Insider’s Julia La Roche was there, and she said that vanilla shake that she tried had a chalky taste.

One hedge fund analyst in attendance, though, said that it wasn’t as bad as he expected.

And then there were exchanges like this: One attendee said, “This tastes like something my 6 year-old would make.”

His colleague chimed in, “Yeah, with Play-Doh.”

Another hedge funder quipped that he hoped he didn’t pick up the laxative one. 

Here are pictures of the product:

herbalife tray

Photo: Julia LaRoche, Business Insider

herbalife served

Photo: Julia LaRoche, Business Insider

herbalife

Photo: Julia LaRoche, Business Insider

herbalife

Photo: Julia LaRoche, Business Insider

 

julia tries herbalife

Photo: Julia LaRoche, Business Insider

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