저자: RosarioDiPetta · 외국인
요약 보기
빌 애크먼의 허벌라이프 공매도 실패 사례를 소개. 허벌라이프의 다단계 판매가 피라미드식 사기라는 점을 근거로 공매도했으나, 칼 아이칸과의 분쟁과 법원의 사기 불인정 등으로 주가가 급등해 약 15억 달러 손실을 봤고, 이후 애크먼은 행동주의 투자자로 전환했다고 설명. 공매도의 손실 무한대 위험과 대형 투자자도 실수한다는 교훈을 강조.
다듬은 글
There are stories on Wall Street that seem to have come straight out of a movie but they are real stories that have actually happened and that concern events linked to great investors. The great investor in question for this story that I will now tell you is Bill Hackman. Bill Hackman who is today considered one of the best investors in the world who has an investment style comparable to that of Warren Buffett due to the fact that he is an activist investor, that is, an investor who invests in a few companies and collaborates from within these companies to improve them.
But Bill Hackman throughout his career full of ups and downs has not always been this way. He was also a somewhat reckless investor who even loved short selling and in fact what happened around 2012-2013 was that there was basically a company and Bill Hackman learned of this story through friends in the journalistic field.
This company was Herbalife which sold slimming drinks that promised miracles but the story was linked to the marketing carried out by this company, that is, the way in which it was marketed. eh always involving new people in the sale of these products or a sort of pyramid scheme that sometimes involved very poor people who came to the United States in New York to fulfill the so-called American dream and who found themselves entangled in this multilevel marketing some call a pyramid scheme a scheme that actually works in a very particular way.
So much so that now I'll let you listen to one of the protagonists who was actually involved in Herba Life who will explain well how this pyramid scheme works I've got my girl boss hat My Girl Boss Blazer and my mlm Herbal Life front Shake Which unfortunately is so good We get into how I acquired this later in the video but these things are just fantastic and it really pains me to say it because like probably so many lives were ruined for this Shake all right So What is multilevel marketing the practice of selling goods or services on behalf of a company in a system where by participants receive commission on their sales as well as the sales of any participants They recruit so really The thing here to know is that really the product isn't what you make money on it's the person that you get to sell the product underneath you that's the real product Pyramid schemes are however fraudulent schemes and they are Legal This is what any mlm or hbot will tell you They say It's not a Pyramid scheme because Those are Illegal and really The key differentiator is that Pyramid schemes don't have a viable product mlm do usually like some Sort of Half Ass shitty product It's Almost a loophole you know to be able to have a pamid scheme without going to Jail Pyramid schemes or multilevel marketing or network marketing or Social Selling They have so many different names because every single Time The Name gets a bad reputation so They have to move on to a New One as Like a Fresh slate so there are like 10 Things that People are calling it now this Started in the 1940s with This company called neutral Which is just it was good therefore he found that the company adopted this sales method at that point Bill hman moved partly by the desire for profit and partly but also from a saving desire towards these people who were exploited in this in this type of sale What does he do starts a real media campaign against Herbalife and in the meantime however while he announces this scandal to the whole world and the authorities begin to investigate he begins a massive short sale of Herbalife shares now it is useful to remember that short selling is one of the riskiest operations in the financial field because it consists in borrowing these shares from someone else and then selling them without actually owning them but being forced to buy them back when the operation has to be closed and if these shares fall Bill Hackman makes a profit but if the shares then start to rise we will see that Bill Hackman will be forced to close with a large loss and what happens Here are the particular events of Wall Street in which big investors big Titans clash in a game of spite and resentment and that is what happens in this case because it happens that a big investor older and more powerful than Bill Hackman, namely Carl aan He has a grudge against Bill Hackman for a past incident or in the past it happened that Bill Hackman had sold shares of a company to Carl aan which was actually quoted at around 66 and however it was expected that it would have once been it would have had a big exploit and at that point Bill Hman makes a pact a written pact with Carlan and sells him these shares more or less at 80 but in the written pact it is also written in detail that if these shares were if Carlan were to resell these shares at a price higher than 80 all surplus would be split 50/50 with Hman and that is what will happen.
That is, the shares will be resold by Ican at roughly 145 and so at that point once this sale has been made Hman calls Carlan and says look I haven't received your money yet Aan says he replies look I won't send you the money Because these shares I don't know there has been an acquisition I didn't sell them directly I basically find excuses for not paying what he owes to Hman Hman at that point gets the lawyers involved and with several years of delay He manages to receive what he is entitled to at that point there Clearly the Gero is created between the two investors and when Carl aan hears that Hman has a large short position on Herbalife shares he begins to buy Herbalife shares in a svod manner, Herbalife shares which at a certain point begin to rise also because the American judges do not recognize the fraud in the in the multilevel marketing used by Herbalife and therefore these shares begin to rise vertiginously at first Hman resists even if he is down by a lot of money but at a certain point I think he is down by 1.5 billion and he is forced to buy back the shares and therefore to close this large short operation it will be a real trauma for Bill Hackman who will no longer operate in this manner.
Short selling is one of the most lethal things that can exist in the world of investments and this whole affair makes us understand how it leaves us with two lessons. The first lesson is that short selling is one of the things to avoid because it is easily understood that if we buy securities we can at most lose 100% of what we have invested.
But if we sell short the losses are truly unlimited because while The stock can go to zero and that's the best it can do. It can't go below zero, but for the short market, the stock can rise infinitely. We don't know how much it can rise, so we will lose a lot of money. The second thing is to learn that even big investors make mistakes, and Bill Luckman understood his mistakes and completely changed his investment style, effectively becoming an activist investor who works to improve the companies he holds in his portfolio and stays away from short selling forever.
So let me know if you knew this story, which is very famous on Wall Street. I thank you if you leave a like to support the channel, and we'll see you for future content.
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