Another hedge fund is planning to jump on Team Icahn in the battle between Herbalife Ltd. (NYSE:HLF) and this is no Whitney Tilson. Kyle Bass has said that he will not bet against Dan Loeb. We all know that Dan Loeb has a 8.2 percent stake in Herbalife Ltd. (NYSE:HLF) and has energetically defended the company and has also called Bill Ackman’s Pyramid scheme allegations preposterous. Now these are big statements, and serious ones, and most certainly not like the ones Carl Icahn uses to defend himself and trash Ackman.
Kyle Bass, founder of Hayman Capital, said in his recent interview with CNBC that he has done no research on the nutritional supplements company and does not own a stake in Herbalife Ltd. (NYSE:HLF), at present. He said that Loeb is a great investor and he would not bet against him.
Last year was a banner year for hedge funds in general, as the industry attracted $31 billion worth of net inflows, according to data from HFM. That total included a challenging fourth quarter, in which investors pulled more than $23 billion from hedge funds. HFM reported $12 billion in inflows for the first quarter following Read More
For anybody who wanted to know if Kyle Bass is a friend of Dan Loeb, well he is. He said, “He (Loeb) is a good friend. I would never bet against him. I think Ackman has a tough road ahead.”
Every day the Herbalife Ltd. (NYSE:HLF) story gets more sizzle and we are waiting for someone to side with Bill Ackman now. Although with his 22.2 million shares short bet that amounts to $1 billion, he hasn’t left many shares for anybody to short .
A point to remember is that Ackman is not a friend of Loeb and Icahn does not want to be Ackman’s friend, never has, never will, he hates that guy. After all this kind of information always helps in making investing decisions.
The Kyle Bass video is embedded below: