Hedge fund manager Whitney Tilson, who runs T2 Partners and is friends with Bill Ackman, said that he is short Herbalife, ValueWalk first reported citing an email.
Tilson said that Ackman’s 342-slide presentation short thesis on Herbalife was the “most remarkable piece of investment analysis” that he has ever seen.
However, he’s short only a “tiny smidge” of Herbalife telling people “good luck getting the borrow.” Tilson added that he’s short some other multi-level marketers though.
Ackman, who runs Pershing Square Capital Management, has an enormous short position on Herbalife. According to Bloomberg News, it’s 20 million shares.
Ackman confirmed last week that he short Herbalife, a multi-level marketing (MLM) company that sells weight loss and nutritional supplements.
During a three-hour long presentation at a special Sohn Conference event he slammed HLF calling it a “pyramid scheme.” He has a price target of $0 and believes the company will fail.
He told audience members at the presentation last week that he is not short any other MLMs because he knew they would go down on his presentation.
Since December 18, the trading session before Ackman confirmed his short, shares of Herbalife have tanked 38.68%.
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