Vanishing Equity
The smoke has long since cleared from the fields of Herbalife where William Ackman and Carl Icahn famously did battle for five years with stock purchases, research reports, threats of lawsuits, short-squeezes, claims of pyramid fraud and cultism, claims of stock manipulation, press conferences – all chronicled in a Netflix documentary. Wall Street revealed confusion and lack of knowledge about what exactly Herbalife’s “multi-level marketing” business model is, while also asserting that it did not need to know. Profit, growth data and longevity were sufficient. Even after an investigation and prosecution of