Carl Icahn is sticking with his Herbalife investment.
In a statement released on his website, Icahn said that he had not sold any of his shares in the nutrition company and in fact upped his position by 2.3 million shares on Friday.
This comes amid reports from the Wall Street Journal that the hedge fund titan was considering selling his large investment. in the statement, Icahn also took shots at fellow hedge fund manager Bill Ackman, who has been short Herbalife. The two have been famously in a feud over the opposing trade for around two years.
“Ackman may be a smart guy but he has clearly succumbed to the same dangerous (and sometimes fatal) malady that afflicts many investors — he’s developed a very bad case of Herbalife obsession’,” said Icahn in his statement.
Here’s the full statement from Icahn:
Over the years many investment bankers, including Jefferies, that specialize in block trades frequently make bids for our large positions. But completely contrary to what Bill Ackman stated on television today, I have never given Jefferies an order to sell any of our Herbalife shares. Last month we publicly disclosed that Herbalife granted us permission to go up to 35%. At the time of the disclosure, Ackman declared that I have no interest in increasing my position in Herbalife. This was obviously another misstatement of the facts by Ackman since today I bought another 2.3 million shares. I continue to believe in Herbalife: it’s a great model that creates a great number of jobs for people. Ackman may be a smart guy but he has clearly succumbed to the same dangerous (and sometimes fatal) malady that afflicts many investors — he’s developed a very bad case of “Herbalife obsession”. Obsessions concerning the value of stocks are the undoing of many investors because they often blind you to the facts, and it becomes impossible to see the forest for the trees. Watching Ackman on television today is a perfect example of this “obsession”. A month ago he declared that I’d never buy more Herbalife stock, which obviously turned out to be completely wrong. Today, he said I’m done with my Herbalife investment and that I’m a seller. Obviously wrong, again. It amazes me that a guy who hasn’t any knowledge of my internal investment thinking believes he is in a position to go on television to tell the world what I AM thinking! Amazing! He has no right to do so, and even worse, I’m sure his unsubstantiated, obsessive comments, especially about Herbalife, have cost investors a great deal of money over the last few years.