Bill Ackman Discusses His Herbalife Short and His JC Penny Long
First is Herbalife (HLF), which he explains his reason for shorting as being simply that the company is a "pyramid scheme." That should be enough said, but it has to be a bit disconcerting now with Carl Icahn and Dan Loeb taking the long side of that trade.
Second is J.C. Penney, where Ackman has a high-profile long position in the struggling retailer. His plea to investors is that CEO Ron Johnson simply needs more time.