Napkin Investing


“He’s the best back of the napkin investor around”.  That’s what Ackman said about Icahn today before he pulled a John Boehner and the waterworks started. If being a back of the napkin investor could give me Ichan’s year, sign me up.

Ackman over-promised and grossly under delivered today after putting fear in the $HLF longs yesterday on Bloomberg and CNBC. He brought a knife to gunfight today and brought a wet firecracker when he need a nuke.

I watched the entire call and at points laughed and almost felt sorry for the guy. He didn’t seem to have belief or passion with what he was saying. Maybe he’s just a shitty salesman. Today’s presentation showed you what $50 million in due diligence gets you. Lawyers, investigators, accounting firms. The list goes on. I’d rather use the napkin. Today was a major squeeze, but the street wasn’t picking up what Ackman was putting down.

It seemed that around noon, when Ackman took a ten minute break, the stock lit up to the upside.  Folks didn’t see the smoking gun and started buying. The buying continued and the stock ended up 25% for the day.

I don’t know what the end result will be with this, and I have no hat in the ring, but a trading lesson can be learned. Some times we can get to close, too in love with a name. So don’t fall in love with your shit.

Just adorable



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