A fascinating story about all the market forces in the world being unable to demolish one clearly fraudulent company. An early addition to your #longreads this week.
“She seemed to be wearying of the bleak task of exposing Herbalife’s lures; occasionally, she worried about what she would be qualified to do after researching one company for one hedge fund for so many years. ‘Being a hedge-fund researcher is sort of like being a journalist, without all the camaraderie,’ she said. […]
“‘You get so tired of stomping on people’s dreams,’ Richard said. ‘I don’t want to be the one stomping on people’s dreams anymore.'”
A hedge fund planned to make a fortune—and do good—by exposing how Herbalife preyed on the poor. What went wrong?
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