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-- shares surging today even a short seller they'll act -- threatening to keep the pressure on the beleaguered nutritional company has -- -- you know.
Latest on Herbalife Honda a look at his interest in charge these kind of things at all where the stock was weird swear it is now.
-- -- shows you where act when his was right back in December trading around forty.
It appears that -- -- it's pretty -- this company's shares are now surging today.
Up last I looked -- -- percent haven't seen the latest sock chart so why are they up but you know last week the at a company presentation to -- -- -- little bit on that -- went up plan.
Was -- -- that we for -- here first on Fox Business.
They damn well was gonna take a peak in debt -- eleven at a major investment and it.
Now what we have is to sort of interesting events that don't really.
You know add or detract from what -- -- as saying that the companies -- pyramid scheme it's gonna run out of Yelena pyramid scheme you make money by getting more distribution not -- selling products to distributors -- you -- some and at some point those distributors run out.
These two events don't necessarily be -- from that argument that it is a pyramid scheme.
But they provide a lift and to one argument is that they're gonna preannounce earnings are going to be pretty good right -- you know decent -- analysts' expectations of maybe beating of a bit.
Number two is that right if they do that they're gonna do that this week apparently.
There's going to be stock buyback saw those two things those are two headlines but you see Herbalife up by -- -- that they don't detract.
For -- would -- when this thing we do know that act -- is about to come out with his questions.
He wants to put if not backing down at all.
I mean if you know -- the about the lack and I I don't know the Herbalife people are Buehring -- -- this.
That he's going to keep attacking them.
He's -- -- and it's very persistent he waited years and years on -- and via an MBIA the bond insurer short for to come true I think he started talking about it being.
A problematic company back in 2005 when -- for the financial crisis.
And he made his money 20081.
Part of 2008 is when the bond insurers I remember this is a cover the financial crisis.
They started imploding NBI -- and thank you name it and that's -- he started cash and and so this guy is willing to wait and you know.
With people close that when the same is that this is gonna be a year -- -- -- at least a year long story.
But both sides fight it out and you do have to investigations going on you have an SEC investigation into the company and it's and it's and it would touts as it in this financials.
I think the FTC FT CFTC Federal Trade Commission is coming back looking at him again we should point out that the legal definition.
Public pyramid scheme is set by the FTC if Herbalife turns out to not be approved by the SEC at pyramid scheme FCC ID CDC on that but whatever agency -- ten great assure us that does does that -- have a case against -- Well they've hired they've hired David -- I can tell you that I know -- thinks he's going to be -- any day now.
Least that's what he believes that he hears coming from the -- them from from.
-- -- the famed attorney who's represented Herbalife.
Because ECB to retain someone like that lightly while -- so we had we had dead and -- Walsh you know that the -- the these I -- -- -- -- -- -- -- -- supported -- And he basically suggested species that they're either civil -- -- -- -- believe we said you know when you.
When you go into battle and he says and I'm kind of paraphrasing a little bit but he said eagle which -- eighteen.
And you know he's in the battle back and battle usually means you know.
You you go to court.
-- -- -- -- -- -- well diamond Jaime diamonds posts is gonna get cut I think that everybody knows that's been reported in the journal some other places you know -- been able to confirm I really don't care.
I don't think -- cares that much.
I I would say this steady here's the they're gonna come our report -- -- obtained by the by the control of currency on the whale trades you know how they conducted those trades from that investment office never that was the that that was that that office.
Was investing the bank's portfolio they took what seven billion dollar hit on this thing.
We should point out that have -- -- seven billion dollar -- JPMorgan's gonna earnings of around 21 billion dollars for the year what does that mean in context.
Only one bank as far as I know had pool more earnings JPMorgan's 21 billion that's coming out.
And that Citigroup in 2005 which I believe it at 24 point five billion.
That was the US banks historical record.
That was done in 2005.
When -- went would Citigroup was drinking a lot of -- -- from.
You know mortgage bonds at all that -- that garbage that ultimately blew it up in 2008.
This is a different bank with a lot less risk.
And they're -- spending and -- with that would do well lost a bid to 21 billion dollars.
You know you can criticize how we got there I think a lot of -- from the Fed keep interest rates at zero and all that -- it is a man.
It's not purely business is there's some manufacturing.
-- -- -- -- significant and it -- environment -- I don't but just remember it's not like the -- some brilliant bruises actually that's -- -- those but that said.
Jamie Dimon -- runs a very profitable bank.
And if you think about it.
You know problem that we own perspective I think I'd I'd never been a big fan of that sort I just thought it was.
People screwing up have been going -- afterwards -- informed on the -- -- can't try thanks so much.