BOSTON, July 31 Billionaire investor William
Ackman called himself his "own worst enemy" in reviewing why
last week's much hyped presentation on Herbalife Ltd.'s
nutrition clubs failed to deliver the "death blow" he had
"It was a PR failure," Ackman told Bloomberg News on
Thursday, explaining that he had raised expectations about the
presentation. "People were looking for the dead body and the
smoking gun and instead what they got was a three-hour detailed
regulatory presentation," he said in the interview.
"I'm my own worst enemy," Ackman said when asked whether he
had been advised on how to present the data. Ackman was not
available for comment but a spokesman confirmed his comments.
Herbalife's stock price climbed higher during the July 22
presentation, extending the fund manager's losses on his $1
billion short bet against the company that he unveiled 19 months
ago when he first accused the company of running a pyramid
scheme. Herbalife denies the allegations.
In spite of the Herbalife bet, Ackman's $14.7 billion
Pershing Square Capital Management is delivering strong returns
this year, having gained 25 percent in the first half of the
year which ranks it as the industry's top performing hedge fund.
(Reporting by Svea Herbst-Bayliss)