Back in May, David Einhorn, poker-playing founder of long-short value hedge fund Greenlight Capital, was in an analyst and investor conference call hosted by Herbalife (symbol HLF). Mr. Einhorn raised some questions about the company’s sales processes and why they had stopped reporting certain sales metrics. This five minute exchange resulted in a 8.8% decline in the stock during those five minutes and further in the day the stock fell a total of 20% accounting for a loss of $1.6 billion in market cap.
This is pretty badass.
