logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


A Media Timeline of Controversial Investor Bill Ackman

  +Follow August 23, 2013 8:36AM
Share:
Tickers Mentioned:

If you want to get a conversation going, you might as well do it with a letter titled simply “Mistakes.” That’s what activist investor Bill Ackman did when he admitted that his controversial, high-profile bets for JC Penney (JCP) and against Herbalife Ltd. (HLF) had both misfired, spectacularly.

In the letter, the once high-flying Ackman referred to his failed attempt to turnaround JC Penney by installing a handpicked CEO with no department store experience and making radical, hands-on changes to store policy a “failure.” Ackman resigned from JC Penney's board on Aug. 13, ending his troubled tenure at the retailer in a public, embarassing fashion.

Just prior to writing the letter concerning JC Penney, Ackman defended his other major 2013 blunder, the $300 million (and counting) loss his hedge fund Pershing Square Capital has incurred shorting Herbalife, which he has called a “pyramid scheme” for its multi-tiered marketing system. Ackman claimed he’s making progress on getting federal regulators to take a closer look at the company. But like with JC Penney, it seems now like he's just trying to save face.

The fact is, the investor, once the crown prince of activist investing, has tanked spectacularly, and--especially in the eyes of the media--might be down for good. It hasn't always been this way. When he famousy predicted (and successfulyl shorted) the 2007 financial crash, he was lauded as a visionary and more. But now, with the latetst string of bad bets, it's like Ackman wasn't ever on top to begin with.

Ackman’s own admissions, with letters entitled "Mistakes" stand in stark contrast to his confident, no-hold-barred past as an activist who saw what others didn't. Now, his seesaw contrition and bravado belies uncertainty, and mirrors the investment community’s own waning perception of the divisive investor.

When Ackman is up, he’s up. And when he’s down, people can’t wait to dogpile.  Below is an assembled brief timeline of public perception of Ackman via press snippets:

The Golden Boy Who Predicted the Financial Collapse

New York Times, Dec. 2007

"(Ackman) may be aggressive, he may be over the top, he may not be able to speak in short sentences…  but he's doing the hard work, and thinking the hard thoughts, that (Wall Street regulators) refused to do for far too long.”

A Distinguished Visionary

(Upstart Business Journals Profile, April 22 2009)

Ackman… has had the seminal financial career of the past two decades, which is to say that he’s had the seminal American career of the era…

Ackman up close might be the most winning salesman on Wall Street.

Like Elvis, With a Smarter Portfolio

(Reuters, Oct. 14 2010 Special report: What if Elvis Ran a Hedge Fund?)

In person, Ackman cuts a striking figure, standing at 6' 3" tall with a shock of grey hair. But it is the stature of his fund's performance which is what most draws investors to him.

The Backlash Begins, Albeit With Sarcasm

NY Mag, Oct. 14 2010

Headline: “Bill Ackman Can’t Help That He’s Awesome and People Want to Get Close to Him”

Okay, Ackman Might Be the Same… But He’s Smooth!

Bloomberg Businessweek, Feb. 10, 2011

(Billionaire investor Carl Icahn) still has the whiff of a fast-buck artist... Ackman's approach is often the same, (but) he… wrap(s) his tactics in a smooth, well-learned politesse.

Not to Mention, the Guy is a Matchmaker

Reuters, July 18 2012

Helping his single friends and acquaintances find a life partner is, however, close to the multi-millionaire’s heart and he’s doing his part to help. And every so often, Ackman and his wife whirl through their Rolodexes and invite their unattached friends to come on over to their place and spend a few hours meeting other singles.

We Still Believe, Bill Ackman

The Guardian, Jan 25 2013

At Ackman's famous investing presentations, in which he invites other money managers to learn why he has turned against a certain company, the investors look at him, wide-eyed and admiring, as if he were a financial messiah.

Maybe it’s Not All Roses

Vanity Fair, April 2013 (quoting Chapman Capital’s Robert Chapman)

(Ackman) seems to look at other members of society, even legends such as Carl Icahn, as some kind of sub-species. The disgusted, annoyed look on his face when confronted by the masses beneath him is like one you’d expect to see [from someone] confronted by a homeless person who hadn’t showered in weeks.

Lest We Forget Though, He’s Still a Hero for Taking on Herbalife…

New York Times Op-Ed, April 2, 2013

Ackman has been heroic in taking on this litigious, well-financed industry (Herbalife.) Not since Jim Chanos went after Enron has a hedge fund manager been willing to question whether a company was actually a criminal enterprise. That takes guts.

While Ackman Ignores His Failures, We Ignore Him…

Forbes, May 8, 2013

As Bill Ackman took the stage on Wednesday at the Ira Sohn Conference in New York, the audience erupted in applause expecting to hear one of the day’s best ideas.  Instead, they spent their time checking emails…

Because Really, The Herbalife Bet is Failing. Hard.

The Street, Aug 10 2013

Sometimes the smartest guy in the room outsmarts himself.

And Now the Schadenfreude

Bloomberg MSG, Aug 10, 2013

Never interfere with an enemy when he is in the process of destroying himself.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for jcp
Smallcapfinancial
7 Jul 15 12:55:38
Todays market movers $depo $axpw $pbmd $plug $himx $jdst $chk $bbg $mhr $wll $dnr $fit $jcp $oas http://t.co/ehs3US2E0l See Disclaimer
T Johnson
7 Jul 15 12:52:43
$JCP looking good!
Penny Stockington
7 Jul 15 12:50:40
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $JCP $AQUM $WSGI
smart-ticker.com
7 Jul 15 12:41:17
Market close top stocks bull trade ideas: $DEPO $PNK $MSM $HIMX $TVIX $CTCT $JCP $LGCY $ADSK $SUNE
Antonio Costa
7 Jul 15 12:37:46
$JCP Resistance Breakout. Looks ready to test the recent highs at 9.50. http://t.co/nbKxhOmlBY
StockenheimerSchmidt
7 Jul 15 12:31:49
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $JCP $AQUM $WSG
Trade Forex Signals
7 Jul 15 12:31:35
Ascending Channel 9R $JCP http://t.co/bcEeBhELQa ~ via http://t.co/Kd2qwcsyit
TV_Trading Ideas
7 Jul 15 12:30:11
Ascending Channel 9R $JCP http://t.co/UqprS0aqwI
StockBoardAsset
7 Jul 15 12:30:11
$JCP chart: Ascending Channel 9R . http://t.co/kmqzFf5mur
suriNotes
7 Jul 15 12:27:23
$JCP in ABC Bullish Pattern (Weekly), Targets http://t.co/AIp6bJ725r
Stock Dawgzz
7 Jul 15 12:22:40
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1yqlzk $JCP $AQUM $WSGI
Cutlass
7 Jul 15 12:21:43
RT @SwatOptions: $JCP closed our SWING CALLs @swat_premium this morning for nice double, but maybe a bit too soon.. going more http://t.co/…
Stockaholics
7 Jul 15 12:20:27
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeF3OQ $JCP $AQUM $WSGI
Stock Rocket
7 Jul 15 12:20:10
Our Penny Stock Newsletter Alerts Gained 200% In 2 Weeks! Get Our Next Pick Early: http://t.co/4eX1MHBloV $JCP $AQUM $WSGI
Options Network
7 Jul 15 12:19:00
$JCP closed our SWING CALLs @swat_premium this morning for nice double, but maybe a bit too soon.. going more http://t.co/B2FEjDuxht
Geoffrey Braun
7 Jul 15 12:11:21
RT @surinotes: $JCP in ABC Bullish Pattern, Earnings: 8/13, 4.5 stars, ivRank: 5 http://t.co/XshSa7Ipmv
Geoffrey Braun
7 Jul 15 12:11:17
RT @Bidnessetc: Why J C Penney Company Stock Trades Higher Today? http://t.co/Vs50lrpn7i $JCP http://t.co/GlUuelcbbo
Geoffrey Braun
7 Jul 15 12:11:12
RT @surinotes: $JCP in ABC Bullish Pattern, ChartNotes http://t.co/MU4V81YAvf
Geoffrey Braun
7 Jul 15 12:08:12
Buy buy buy $JCP @stt2318 @bman_alerts @InvestorsLive @timothysykes @modern_rock @
ProVesting
7 Jul 15 12:04:03
$INTC $JCP $GWPH: Intel, JC Penney, GW Pharma Lead Piper Jaffray's Favorite Ideas: http://t.co/47UcxYlDOl
ProVesting
7 Jul 15 12:04:03
$S $JCP $MT $AA: Why Fallen Angels Fly Above Ordinary Junk: http://t.co/Xdd0CNGVMR
Geoffrey Braun
7 Jul 15 12:01:14
$JCP surged over the $9 mark, but it now folks!
Media Sentiment
7 Jul 15 11:59:53
$JCP received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 350
Homegameralert
7 Jul 15 11:59:38
grabbing some $JCP on upgrade and channel checks in some local stores
Paul Henry
7 Jul 15 11:58:12
Our Penny Stock Picks Have Gained 3,600% In 9 Months! Subscribe To Get Our Future Picks: http://t.co/0VyTzPR97b $JCP $AQUM $WSGI
BeatTheStreet
7 Jul 15 11:57:01
@shecantrade Who upgraded $JCP? ITG raised revenue forecast, was there something else?
Sarah
7 Jul 15 11:55:49
my $JCP call is looking good thanks to the upgrade today. I will be riding this one
clayton
7 Jul 15 11:45:08
SUNE SunEdison, Inc. 52Wk High http://t.co/ivVdYR1gJq $SUNE $TSLA $JCP $OIH #SUNE #stocks #finance
DennyT
7 Jul 15 11:40:17
JCP JC Penney Co, Inc. Change http://t.co/l80zZ3Z9ap $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/gVYJwR6M0I, Inc.…
DennyT
7 Jul 15 11:40:16
JCP JC Penney Co, Inc. Change http://t.co/xOWU96CSG2 $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/gVYJwR6M0I, Inc.…
DennyT
7 Jul 15 11:40:16
JCP JC Penney Co, Inc. Change http://t.co/mzXG2m9eoM $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/gVYJwR6M0I, Inc.…
DennyT
7 Jul 15 11:40:15
JCP JC Penney Co, Inc. Change http://t.co/ucfshacQCs $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/gVYJwR6M0I, Inc.…
DennyT
7 Jul 15 11:40:15
JCP JC Penney Co, Inc. Change http://t.co/sJzjTyIdIc $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/gVYJwR6M0I, Inc.…
DennyT
7 Jul 15 11:40:14
JCP JC Penney Co, Inc. Change http://t.co/NTdSAgz9ck $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/gVYJwR6M0I, Inc.…
IH News Desk
7 Jul 15 11:40:14
JCP JC Penney Co, Inc. Change http://t.co/HnAIvmtBQi $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/B8fH4bgiAr, Inc.…
DennyT
7 Jul 15 11:40:14
JCP JC Penney Co, Inc. Change http://t.co/ev1ocOfaVY $JCP $ABX $SDRL $SSO #JCP #investing #stockmarket
IH News Desk
7 Jul 15 11:40:13
JCP JC Penney Co, Inc. Change http://t.co/yATw5BRsrB $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/B8fH4bgiAr, Inc.…
IH News Desk
7 Jul 15 11:40:12
JCP JC Penney Co, Inc. Change http://t.co/y1Ka1D1nt5 $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/B8fH4bgiAr, Inc.…
jim50
7 Jul 15 11:40:12
JCP JC Penney Co, Inc. Change http://t.co/jw2p0e0uqf $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/IbUvvA7YWl, Inc.…
IH News Desk
7 Jul 15 11:40:12
JCP JC Penney Co, Inc. Change http://t.co/lFBzGLIPyQ $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/B8fH4bgiAr, Inc.…
jim50
7 Jul 15 11:40:11
JCP JC Penney Co, Inc. Change http://t.co/ljyXctz8PW $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/IbUvvA7YWl, Inc.…
IH NASDAQ OMX
7 Jul 15 11:40:11
JCP JC Penney Co, Inc. Change http://t.co/IAjpRsMyLR $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/QqdtvmgP1J, Inc.…
Jake13
7 Jul 15 11:40:11
JCP JC Penney Co, Inc. Change http://t.co/cfcJUP77Gh $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/2SZptrN2nH, Inc.…
IH NASDAQ OMX
7 Jul 15 11:40:11
JCP JC Penney Co, Inc. Change http://t.co/6mbmeeME0S $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/QqdtvmgP1J, Inc.…
IH NASDAQ OMX
7 Jul 15 11:40:10
JCP JC Penney Co, Inc. Change http://t.co/NKX5pbTvPt $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/QqdtvmgP1J, Inc.…
jim50
7 Jul 15 11:40:10
JCP JC Penney Co, Inc. Change http://t.co/0qQ9qOIbqU $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/IbUvvA7YWl, Inc.…
IH NASDAQ OMX
7 Jul 15 11:40:09
JCP JC Penney Co, Inc. Change http://t.co/VPgdbqQEQc $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/QqdtvmgP1J, Inc.…
jim50
7 Jul 15 11:40:09
JCP JC Penney Co, Inc. Change http://t.co/kXKkC9VcDl $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/IbUvvA7YWl, Inc.…
IH NASDAQ OMX
7 Jul 15 11:40:08
JCP JC Penney Co, Inc. Change http://t.co/MKXfBhJyzX $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/QqdtvmgP1J, Inc.…
Emylers
7 Jul 15 11:40:08
JCP JC Penney Co, Inc. Change http://t.co/bCuOwDGWOq $JCP $ABX $SDRL $SSO #JCP #investing #stockmarketJD http://t.co/QaNWVlLsH5, Inc.…
				
				
  +Follow August 23, 2013 8:36AM
Share:

Comments

 

blog comments powered by Disqus

 Today's Must Reads

Why More Millennials are Freaking Out About Money


"Entrepreneur Porn": Feeding the Indulgence of Wantrepreneurs

Trading Inverse ETFs

Everything You Need to Know About Volatility: Good, Bad, or Indifferent?

When to Help Your Loved Ones with Their Finances

 

Do you expect a 10% correction by the end of 2015? in Equities.com Polls on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN