Get positioned on pull backs! The audit will reveal little or no deviation from the notion that the company's financial statements fairly present the company's financial position and results of operations. If you are waiting for some kind of accounting revelation to the contrary, you are "snoozing" and will be losing!
I agree. There is no merit in being nervous about it, though. The sentiment is due from Ackman's misinformation that the audit is somehow a fraud audit. In fact, the audit is a normal annual audit (which can't be finished before all subsequent events are considered). The audit firm will express an opinion on the prior three years as a basis for their 2013 audit opinion. When the 2013 opinion is signed off on in February, the basis for the opening balances for their audit will be expressed but the prior three years will be mute at that point.
We were thinking uncritically when we accepted the notion that "the audit will be completed by the end of the year". In fact, an opinion was formed regarding the prior three years a long time ago but there was no intention on the auditing firm's part to express any opinion until they signed off on the 2013 audit. There are no circumstances to warrant them to do otherwise. If you want to see what the prior year's financial statements will look like, just go to the HLF website - - there will be no change.
Let's wake up and smell the coffee: Why was Icahn's lock-in slated to end in February of 2014??? Because that is going to be the "magic date" - - when the talk of buy-backs and buy-outs will resume.
This is what I am thinking, but may be I am not correct here.
If PWC found an issue, they would let everyone know earlier than later.
The longer it takes, the news is good for Herbalife and bad for shorts.