When the Wolves Bite by Scott WapnerPosted: February 28, 2020
A quick and rather superfluous read, a story of Bill Ackman and Carl Icahn’s fight over Herbalife, an MLM dietary supplements producer accused by Ackman of being a pyramid-like Ponzi scheme. Ackman lost his fight, Herbalife survived, though in a somewhat crippled way – and this story, frankly, bears no moral whatsoever – it is just yet another Wall Street popcorn read you can devour in a few hours on the beach.
The Netflix movie on the same subject, Betting on Zero, is a much more candid thing, though siding entirely with Ackman in this struggle – it has certain honesty about it, determination, candor. Though somewhat socialist and anti-aynrandian, you inadvertently sympathize Ackman, posing as a Don Quixote for the poor defrauded Latino communities (sic!).
Yet, if you want to read a true activist book, don’t read this CNBC summary report by Wapner, glorifying again and again the harsh talk he had with both investors on live TV. Better read David Einhorn’s Fooling Some of the People All of the Time – a short-seller’s tale in his own words. Or bloody read The Big Short, definitely a more wholesome read.