Bill Ackman Updates His $HLF Short

“Hedge fund titan Bill Ackman, who has been in the spotlight for his Herbalife short, is answering investor questions live at the Harbor Investment Conference at JPMorgan Chase right now.

Ackman’s $12 billion Pershing Square Capital Management is shorting more than 20 million shares of Herbalife.  Ackman believes the multi-level marketing company that sells nutrition products is a “pyramid scheme” and has a price target of $0.

We’re on site and live blogging Pershing Square Capital Management’s responses.  Refresh this page for updates.

Before the Q&A, Ackman auctioned off lunches with himself and the others who presented today.  Blue Mountain’s Andrew Feldstein lunch brought in $30,000.

Now we’re gettng to the Q&A, but first Ackman is going to talk about his Herbalife short….”

Updated presentation