Hedge fund manager Bill Ackman said on CNBC today that he will give the “most important” presentation of his career tomorrow when he unveils an investigation into Herbalife’s nutrition clubs.
In December 2012, Ackman, who runs Pershing Square Capital, gave a 342-slide presentation publicly declaring that he’s shorting Herbalife — a multi-level marketing company that sells weight loss shakes and nutritional supplements.
It’s Ackman’s contention that the company operates as a “pyramid scheme” that targets lower income individuals. He believes that regulators, specifically the Federal Trade Commission, will be persuaded to shut it down. Back in March, the FTC launched an investigation in the company.
Ackman told CNBC that he’s going to show everyone tomorrow why Herbalife will collapse. Shares of Herbalife were last trading 6% lower on Monday.
CNBC personality Jim Cramer thinks that Ackman will annihilate the stock.
Ackman has yet to break even on his short.
The stakes are set high for this presentation.