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RE: One of the Largest Trading Losses of all time was Realized Today...
Ackman is interesting. In my opinion his assessment of Herbalife is spot on but the FTC only slapped Herbalife on the wrist for their scam. $200 Million Settlement and that stock has become a pissing ground for these baller hedge fund managers.
Yep. That is kind of what Icahn was saying without actually saying it. It didn't really matter if Ackman was right or not, there was a good chance the SEC and the FTC weren't going to step in which meant that the stock wasn't going to go to zero. Ackman may turn out to be right in the long run with his assessment of Herbalife, but it will probably be long after he covers his short's though. :)
I think you are right. I would love to see Herbalife go down the tubes but they sell a very powerful thing. HOPE
Yep, I had a few friends that got started on those multi level marketing things and stuck with them for years and eventually made some really good money off of them. Enough money to the point where they made it their full time job and worked from home. That isn't the norm though. Although I think if people would really work at those things and treat them like an actual job there would be more success stories... everyone is just after that quick buck and when it doesn't happen they shout SCAM!
Yeah I know what you are saying. I actually know a lot about that industry because I resell a lot of stuff online and it isn't uncommon for me to run across bulk lots of MLM products. Some of it has decent resell value online but for people who are distributors it is a 99% failure rate a lot of times and the ones that are saying they make a lot of money often aren't really making near as much as they pretend to be making. They are always selling a dream and to uphold that they have to pretend to be more successful than they actually are. Also a lot of the companies fabricate these people into being in an artificially successful situation. They will place large downlines under people they want to promote but for someone to go in and replicate the success of the top ones is statistically less likely than winning the Powerball jackpot. The numbers are insanely stacked against the people who sign up for those.