Shane Dinneen, man behind the curtain for Bill Ackman’s Herbalife
Is Herbalife a pyramid scheme like Dinneen and Ackman claim? A pyramid of Giza on Jan. 24, 2012 in Cairo, Egypt.
Activist investor Bill Ackman, the founder of Pershing Square Capital Management, gave a blistering three-hour long presentation in Midtown Manhattan yesterday about his short position on Herbalife.
He wasn't the only one from Pershing presenting the extremely in-depth 342-page slide deck calling the multi-level marketing nutrition company a pyramid scheme.
Pershing Square analyst Shane Dinneen, a tall red-headed guy from Texas, also spent a considerable amount of time researching this investment idea over the last year.
Dinneen also got to take the stage yesterday and he wowed the audience with his points on Herbalife's accounting practices and comprehensive breakdown between retail and recruiting payments, just to name a few that he made.
People were impressed and they're definitely talking about Dinneen today, so we decided to do a little digging to find out more about this young analyst.
According to Christine Richard's book "Confidence Game," Dinneen, a Harvard graduate, joined Pershing Square in 2008 after spending two years at private equity giant Blackstone Group as a "number cruncher."
When he joined Pershing, Ackman wrote that he "shows the promise of being an important contributor to Pershing." He made similar comments in Q3 2008 letter to Pershing Square investors saying, "Shane Dinneen, still officially a junior investment professional, is fast earning his stripes as an eventual senior member of the team."
Dinneen graduated from Harvard in 2005. He was the senior class treasurer and secretary, according to an article in The Crimson.
Also, it looks like he got married just last month.
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