Shit, he's not exactly hitting the right stocks is he? Herbalife up and Chipotle down... Well, I guess HLF has backed off 10% in the past week again, but still up 40% from January... and I don't know when he bought CMG, but that's down 45% since May... I'm sure he's got a few stocks that do well though... but these would hurt. Ackman: All directors, shareholders 'disappointed' by Chipotle slide BOSTON, Oct 25 (Reuters) - Activist investor William Ackman on Wednesday said he believes directors and investors in Chipotle Mexican Grill Inc <CMG.N> are disappointed in the chain's recent performance, on a day its shares hit their lowest since 2013. Ackman's Pershing Square Capital Management holds a 10 percent stake, making the hedge fund the largest investor in the fast-casual burrito chain. "There is not a member of the board of directors; there is not a member of management; there is not a shareholder of the company who isn't disappointed with the progress of the company so far," Ackman said in an interview with Reuters in Boston. Chipotle on Tuesday posted lower-than-expected earnings and said it would open fewer restaurants than previously planned over the coming year, news that sent its shares down 14.6 percent to close at $277.01 on the New York Stock Exchange. [nL2N1N01EC] Ackman declined further comment on the company. His fund's stake in Chipotle lost about $145 million in value in Wednesday's slide. The billionaire investor in May described Chipotle Chief Executive Steve Ells as "outstanding." [nL2N1IK2SY] Ells was made sole chief executive in December when Pershing Square also received two board seats. Ackman has a been involved with a number of companies where chief executives have lost their positions soon after he arrived on the scene including Canadian Pacific and Air Products. Chipotle's sales swooned in November 2015 when the chain was linked to a multi-state E. coli outbreak and went into free fall in December 2016 after at least 80 Boston College students were sickened by norovirus traced to a Chipotle restaurant. Ackman signaled that he was not worried about the safety of Chipotle's burritos, tacos and salads, noting that he had eaten lunch at the chain on Wednesday. "The entire investment team is going to be eating Chipotle until the stock price is back at $500," he joked. (Reporting by Svea Herbst-Bayliss; Writing by Scott Malone; Editing by Cynthia Osterman) ((scott.malone@thomsonreuters.com; +1 617 856 4342; Reuters Messaging: scott.malone.thomsonreuters.com@reuters.net)) Keywords: HEDGEFUNDS ACKMAN/CHIPOTLE Rank : negative Related tickers: CHIPOTLE MEXICAN GRILL INC (C9F, CMG) All English Language News: All English Language News Other: Business Activities, Corporate Results, Domestic Newspool (Reuters), Fund Industry News, Hedge funds, Industry News (3rd Party), Metal Goods and Engineering, Money (3rd Party), N American Securities Domestic News Service (Reuters), N American Wealth Management News Service (Reuters), Reuters Corporate Newspool (Reuters), Reuters Markets Newspool (Reuters), Reuters News (Attribution Code), Reuters Securities Newspool (Reuters), Securities International News Service (Reuters), Short track skating Region Related: United States of America Subject Related: Reuters US Equities Newspool (Reuters)
@dealmaker, I'm pretty sure you would've picked this one up... sorry for encroaching on your article sharing ... keep that up though!
They just mentioned that short sellers in chipolte made $250,000,000 !!! Remember stocks don't stay wallstreet darlings forever!!!
You mean "out of Ackman's customers wallets" ? Ackman is a hedge funds manager. He gives a flying fk about the performance of his fonds untill it's so bad that everybody withdraws. People need to understand that this guy is living off of fees and fees are dependent on AUM. So when it comes to lemons such as VRX, HLF or now CMG, he just gives a couple of interviews, does some "roadshows", or shakes the right hands at fundraisers to collect new dosh. Look at the AUM development of Pershing Holdings. It was 4.5B in Dec 2016 and it's 4.4B in Mar 2017 right after the VRX disaster. It looks like his customers got royally sacked while he went over the new deposit notifications while sipping an appletini XD He sucks as a trader but he's a brilliant fund manager with enough charisma to reel in the whales
I have been working on growing our fund AUM over last few years, and learned many things. I now totally get why some managers with luck luster results retain and even grow AUM. Pedigree and connections are on top of the list even above performance.