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Free Download When the Wolves Bite

Free Download When the Wolves Bite

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When the Wolves Bite

When the Wolves Bite


When the Wolves Bite


Free Download When the Wolves Bite

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When the Wolves Bite

Product details

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Audible Audiobook

Listening Length: 8 hours and 1 minute

Program Type: Audiobook

Version: Unabridged

Publisher: Hachette Audio

Audible.com Release Date: April 24, 2018

Whispersync for Voice: Ready

Language: English, English

ASIN: B07CH4CDVY

Amazon Best Sellers Rank:

This is like “Barbarians at the Gate,” except nobody wins.Nobody wins because everything sensible that can be done by corporate raiders has already been done. So the sharks take on one another.A TV anchor who depends on their ilk to come to his daily show is probably not the guy to present the story from that angle. So he doesn’t…The flip side is that he knows them very well. So you do get the whole dirt here and you totally get it from the horse’s mouth. As a long profile of Carl Icahn or Bill Ackman, this is tops.And here’s another thing: I read the FT every day (and also used to read the WSJ every day before Murdoch bought it) and I have to say that until I picked up “When Wolves Bite” it had not sunk in with me that David Einhorn and Bill Ackman are different people: the story’s always the same when you read it in the paper: clean-shaven hedge fund guy announces that he’s bought shares in something semi-dead, is appointing directors and plans to milk it to death and wait until the stock market’s gone up enough that he can sell for a profit regardless.Somewhere around page 68 it became clear to me that David Einhorn and Bill Ackman are different people, because the former’s appearance in the book ends and there’s some 150-odd pages left.The book never picks up, there’s no closure, nor any real scrutiny of Herbalife, but if you’re looking for takeover porn and you’ve already read Barbarians five times, it’s not too bad at all.The proof is I read it in the space of three days!

I'm not sure if this book was really intended to be about the Herbalife battle between Bill Ackman and Carl Icahn or about the way billionaire hedge fund managers use company ownership to fight with each other. It seems to be both.The Herbalife fight started when David Einhorn took a short position against the company based on its business practices. Bill Ackman quickly jumped in as well, but Einhorn didn't stay. He attended a shareholder meeting and asked a few pointed questions to the CEO. Those questions drew broad attention and caused the stock price for Herbalife to drop by 40%. Then Einhorn took his profit and got out. But Bill Ackman stayed with his short position. He was convinced that the Herbalife company is nothing more than a pyramid scheme that targets the poor and minorities and that the company stock would be worthless when that came out. Meanwhile, Carl Icahn had the opposite view of Herbalife, and he bought a major stake in the company, starting the war. They were not the only players in this story, but they were the main characters.Wapner does a good job of providing the background details of the Herbalife story and also provides more information on the men involved. I didn't find it a page turner that I couldn't put down, but it was interesting enough to keep my attention. If you have an interest in the stock market and the market makers, in particular, then you will probably like this book.

As someone who religiously followed the Herbalife saga unfold I can say I thoroughly enjoyed reading When The Wolves Bite. To address some of the initial reviews, Betting on Zero is not a 2 hour summary of this book, and Scott is not the TMZ of Wall Street in my opinion.The majority of the novel followed the series of events regarding the HLF saga. I was pleasantly surprised as to how Wapner narrates the story, keeping a neutral tone throughout the entirety of the novel. Readers will be able to draw their own judgement regarding the ego's involved here. Weaved into the story are aspects of the HLF saga that haven't been told before which warrant picking up this book if you're familiar with the story. My favorite part is the ending on who really won the battle between Icahn and Ackman. Good food for thought.Parts of the story did leave me wanting more, particularly around the CNBC news side of things. At times I found myself wondering if someone unfamiliar with the HLF story would find this book as entertaining as me if they picked it up for a quick read. My guess is they might, but its possible they would interpret this as a Wall Street drama and move on.Overall, the novel is a good read that tailors more to viewers of Scott's CNBC Halftime Report and followers of the HLF saga. I can say with complete confidence that I'm looking forward to Scott's next novel!

The books is a well-researched and detailed account of the Herbalife fight between Ackman (short) vs Icahn (long), with a good overview of how activism investors work in general as well as brief bios for both Ackman and Icahn.It does a good job of outlaying the complexity and multi-dimensionality of activism investment: researching financial fundamentals of a company, waging proxy fights for board control, evaluating the legal situation ("can they sue me back?"), lobbying in Washington, surveying customers on the ground and astro-turfing PR campaigns.However, other than a large set of facts and a step-by-step account of a particular fight, I can't say I learned too many generally applicable principles, hence 4/5.

I think Jim Cramer summed it up correctly on CNBC the day the book was released in April, "it reads like a novel". While I was keenly aware of the public back and forth between Carl Icahn and Bill Ackman regarding their battle over Herbalife, there was a ton that I did not know that led to this showdown of activist investors. 'Wolves' is the culmination of a unique event by Wall Street standards, fortuitous access, great reporting, and entertaining storytelling. If you are interested in money, markets and the battle of billionaires over what appeared to me to be a shady company and business, with a very uncertain outcome, then this book is a home run read.

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