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HERBALIFE TANKS AS BILL ACKMAN SPEAKS

Rob WileJul 21, 2014, 22:21 IST

REUTERS/Eduardo Munoz William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks at the Sohn Investment Conference in New York, May 5, 2014. Activist investor Ackman said on Monday that he recommends the shares of mortgage finance giants Fannie Mae and Freddie Mac because the companies have low liquidity risk.

Herbalife shares were down nearly 6% as Pershing Square founder Bill Ackman told CNBC that the nutritional supplement provider is one of the biggest frauds in history.

Appearing on "Halftime Report" with Scott Wapner, Ackman previewed a presentation on the firm he's giving tomorrow that he says is the most important of his career.