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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of embattled company Herbalife (NYSE: HLF ) jumped 10% today as another big investor announced a stake in the company.
So what: There's been a big battle between hedge fund managers Bill Ackman and Carl Icahn over Herbalife, and now it appears that the legendary George Soros is joining the fray. CNBC reported that Soros has taken a position, although Soros wouldn't confirm a stake in the company.
Now what: This is a classic "hands-off" trade for retail investors, who would be wise staying away from the battle of hedge fund titans. Ackman, Icahn, and Soros all have billions of dollars to play with, and the battle between the three can leave the average investor with huge losses if they bet in the wrong direction. At this point, it looks like a coin flip between the shorts and the longs, and when huge hedge funds are involved, I won't be getting in their way.
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