Yes, and that is a case where he's right in an obvious, academic way that is clear from the numbers to pretty much anyone who seriously works in the markets (ie: the kinds of people who made decisions about the macro trades that really set prices in the market).
But we're meant to believe that some doofus with an SQLI in some backend component is going to send GM tumbling?
I am, let's be clear, prepared to be wrong about this. But I'm happy to give clear voice to the opposing viewpoint on this hack-and-short meme.
While he didn't succeed in getting the FTC to sue them (which would almost inevitability lead to the company being shut down), they did end up passing reforms that will cripple the business if it is indeed a pyramid scheme. Not sure how it affects them outside the US but I think HLF is going to die over the next few years within if it can't make much revenue from recruiting.
Do you have any evidence that he was naked short? I can't think of a way how this would be acceptable from a regulatory perspective. I think a lot of his short exposure was through derivatives rather than cash anyway.
http://www.bloomberg.com/news/articles/2016-08-27/icahn-mock...