Herbalife, a multi-level marketing firm that sells nutrition products, has become one of the most controversial stocks lately.
Hedge fund manager Bill Ackman, the founder of Pershing Square Capital Management, is shorting more than 20 million shares of HLF calling the company a “pyramid scheme.”
On the long side, hedge funder Daniel Loeb, the founder Third Point LLC, disclosed a 8.24% stake in the company. Loeb thinks Ackman’s pyramid scheme claim is “preposterous.”
The stock has now returned above the pre-Ackman short levels. It’s definitely been an interesting hedge fund battle to watch.
As part of his short, Ackman launched an exhaustive website FactsAboutHerbalife.com with supporting materials for his short thesis.
In one of the sections of the site, he features a presentation given by Doran Andry, a “Chairman’s Club Member” of Herbalife who has been a distributor since 1988.
In Andry’s presentation about “Nutrition Clubs” given at Herbalife’s Leadership Development Weekend in April 2011, he shows how becoming a distributor changed his life and helped his dreams come true.
To demonstrate this, Andry shows photos of his gorgeous $30 million custom mansion, his fleet of luxury rides, his more toned physique, his family’s exotic vacations around the world as well as their extensive global charity work.
We’ve included his presentation in the slides that follow.
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