Yesterday, Bill Ackman of Pershing Square Capital Management LP stated in a presentation that he was short shares of Herbalife (HLF) and that the company was a pyramid scheme.
I owned shares of HLF for clients, and sold the shares today during the stock’s free-fall. I originally purchased HLF at $27 on 8/03/10 and sold today (12/21/12) at $29. On paper its a profit, but I rode the stock down from a high in the $70s this year, thus it feels like a loss.
