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An inconvenient truth may sink Ackman’s Herbalife gambit

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'My name is Jose, and I’m fat'
Bronte Capital’s John Hempton visits an Herbalife nutrition club in Queens and sees something that short-seller Bill Ackman appears to have missed. Herbalife’s main product is not protein shakes and supplements, as outlined in Ackman’s extensive research on the company. Instead, it’s a for-profit Alcoholics Anonymous for obese people – one that appears to work quite well.