I cannot stand by when a company like Herbalife has the audacity to publicly proclaim they provide opportunities for Latinas -- neglecting to mention that it is under investigation by the SEC, the FTC and multiple state Attorneys General for intentionally targeting and scamming Hispanic customers.
I tend to like nice guys. Don't we all? One of my favorite investors is John Templeton. Years after his death, he's still acknowledged as an exemplary person and great investor. But you don't have to be adorable to be a good investor.
Bill Ackman claims Herbalife is a pyramid scheme, and he makes a good case for it. But even if you don't buy his argument, there are other compelling reasons that would make many reasonable people run far and run fast from this company.
Early Wednesday morning, three women from two tony towns on the Connecticut shoreline received visitations at their homes by Federal Marshals. Each woman had been charged with multiple counts of defrauding the Internal Revenue Service, filing false tax returns and wire fraud.