An Interview With The Wolf Whisperer, CNBC's Scott Wapner
Betting On Zero
Burke Koonce and John Fichthorn discuss the latest topics of interest in politics, financial markets, and the cultural forces that shape the world around us. In this episode, we are joined by financial journalist Scott Wapner, whose coverage on CNBC of the Herbalife battle and the personalities behind not only made it into Betting On Zero but set the standard for financial journalism for the next decade.John, who is executive chairman of Maven, owner of TheStreet.com and other media properties, and Burke, who runs the Capitalism Maven site for TheStreet.com, have a long history together discussing markets, politics and contemporary subjects. These discussions sometimes get made into films such as Betting On Zero.Scott’s book, When The Wolves Bite, about the Ackman versus Icahn element of the Herbalife saga, is wonderful. Through highly detailed reporting, the book gives the reader not just a fascinating account of a war between two powerful investors but compelling psychological portraits of both Bill Ackman and Carl Icahn. Naturally, we were more familiar with Ackman and his narrative; learning more about Icahn and his background and personality was compelling reading indeed. Wapner’s account brought the battle to life again in vivid detail. Presumably, most people think of Scott as a television reporter—but he has serious writing chops too. If we have read better financial non-fiction recently, we do not remember when.We spend about half the episode discussing the subject of the book and the film, then we turn to some events of the day such as GameStop and thematic investing. As you would expect, Scott has some fascinating insights. For example, can one imagine how Herbalife shares might have reacted had Ackman made his famed presentation today?This is a fun and enlightening episode with one of the best financial reporters of our generation. We hope you enjoy it. We sure did.
Five years ago, two billionaires named Bill Ackman and Carl Icahn duked it out on national TV and the clip went viral. They hurled accusations and insults at each other over a financial deal gone wrong, and our next guest, Scott Wapner, was the CNBC host who was right in the middle of the battle. Scott is on the show today to discuss this TV battle that helped him make a name for himself as a journalist. And, he didn’t stop there. He recently published a book last month called WHEN THE WOLVES BITE: TWO BILLIONAIRES, ONE COMPANY, AND AN EPIC WALL STREET BATTLE.This book gives the real story of this viral disagreement including unparalleled access to both men and where they stand now. We’ll talk not only about the book but about Scott Wapner’s career, how he got started, and of course, what makes him So Money. Visit www.somoneypodcast.com for more Learn more about your ad choices. Visit podcastchoices.com/adchoices
It’s hard to imagine how an argument between a couple of billionaires could make for a compelling story. But when it happens on live television, and it involves two major Wall Street heavyweights, it’s like watching a trainwreck that you just can’t pull yourself away from.And that’s exactly what happened in 2013, when Wall Street titans Carl Icahn and Bill Ackman got into a legendary verbal battle on CNBC that centered around Herbalife, the company caught in the middle. The host that day was Scott Wapner who unexpectedly found himself refereeing this 30 minute segment that became known as “The Brawl.” It left such a mark on Wapner that he felt compelled to explore the roots of the battle by writing When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle.This recently released compelling read recounts the story of the clash of these two titans over Herbalife, a nutritional supplement company whose business model Ackman questioned. Icahn decided to vouch for them, and the dispute became a years-long feud, complete with secret backroom deals, public accusations, billions of dollars in stock trades, and one dramatic insult war on live television. In researching the book, Wapner gained unprecedented access to all the players and unravels this remarkable war of egos, showing the extreme measures the participants were willing to take.It’s a classic Wall Street tale of money, power, pride and greed. “Better Off” is sponsored by Betterment.We love feedback so please leave us a rating or review in Apple Podcasts."Better Off" theme music is by Joel Goodman, www.joelgoodman.com.Connect with me at these places for all my content:http://www.jillonmoney.com/https://twitter.com/jillonmoneyhttps://www.facebook.com/JillonMoneyhttps://www.instagram.com/jillonmoney/https://www.youtube.com/c/JillSchlesingerhttps://www.linkedin.com/in/jillonmoney/http://www.stitcher.com/podcast/jill-on-moneyhttps://apple.co/2pmVi50 Learn more about your ad choices. Visit podcastchoices.com/adchoices