Herbalife: Still Profitable
Summary Herbalife’s business is likely to remain profitable for the short term, even with the U.S. injunction. Herbalife has some concerns about China, and that should concern investors: China is…
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Avon Could File For Bankruptcy
Summary Cash flow from operations was a negative $165 million in the first quarter. Avon has over $2.1 billion in long-term debt, and negative shareholders’ equity. Covenants on the revolver…
Mispriced Regulatory Risk And The Dubious Nature Of Herbalife Clubs Present A Compelling Short Case
Summary An under-reported statement from the FTC suggests that adverse business model changes are highly likely. Imposing the same rules as were imposed on Vemma would materially adversely affect the…