Herbalife Ltd. (HLF) Fever: Has Carl Icahn Lost The Plot?

Herbalife Ltd. (NYSE:HLF) has agreed to take on two boltard members appointed by Carl Icahn, and allow the hedge fund manager to buy up to 25 percent of the company.

The news, which came today after Herbalife halted trading, caused the company’s stock to rise by almost 7 percent as of writing.

The rationale given by most investors going long Herbalife Ltd. (NYSE:HLF) in the early days of the Ackman short was not that the company was a good one, but that the short wouldn’t work for various...