Asshat of the Month Award: “Montauk Bill” Ackman

“Montauk Bill” Ackman is on record saying JCP was going to be a 15-20 bagger for his investors.  Instead, it went down more than 50%, the CEO was fired and the company is on a path towards bankruptcy. Well played, Sir.

With $10 billion under management, Bill will survive this JCP disgraceful debacle. However, he will do so losing more than $600 million for his sad faced partners.

What can go wrong for “Bicycle Bill” next? Perhaps his investment in BKW or maybe his short in HLF? Frankly, his investments aren’t that risky, with CP and PG being his largest holdings.

I don’t know why hedge fund managers think they could run retail stores (cue Eddie Lampert). Theoretically, I think I know what people want to buy and how they want to buy it. But I have no experience in the field and know enough that I know nothing.

The problem with Ackman is he doesn’t know that he knows nothing. And for that, regrettably, he’s an asshat.

NOTE: Should HLF work for Icahn and turn out to be another loser for Ackman, his fund will be Paulson’d.