Bill Ackman Will Not Shut Up

Bill Ackman Will Not Shut Up by William Green, Obeserver

[buffett]

In December 2012, Bill Ackman declared war on Herbalife. During a three-hour presentation in New York, he denounced the nutritional-supplement company as a “pyramid scheme” that causes “enormous harm to the most vulnerable communities.” Mr. Ackman also revealed that he had a $1 billion short position and said his target price for the stock was zero.

Over the next two years, he intensified his crusade against Herbalife, which has vehemently denied his accusations. Bill Ackman says his investment firm, Pershing Square Capital Management, has spent $50 million on its campaign, which covered everything from investigative research to legal fees to producing films such as Herbalife Unmasked: An Insider Admits that...