He shouldn't be. I don't know the merits of the Herbalife trade. In this story, Herbalife is just the MacGuffin, the element which drives the plot but isn't the plot, like the Maltese Falcon.
The plot is greed, ambition, animus, pride, ego -- all those elements of the Wall Street story that link the Gilded Age to our own. Ego is the unifying thread that ties it all together.
resigned the Herbalife account this week and fired one of its partners, Scott London, for handing out inside tips on the company,
a story detailed at the Los Angeles Times
, it was just another great plot twist. And when big dogs like this fight, I've found it better to buy popcorn than stocks or options.
Jim Cramer is right in saying on CNBC
that this dramatic tension can't go on, that the story has to end, and for someone it will end in tears. The curtain must come down on even the most riveting play. The fat lady has to sing. The question is whether the lesson will be learned, that no one is smarter than the market, and that it's better to earn pennies millions of times than to always try for the big score.
My guess is it won't.
At the time of publication, the author was long MCD.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.