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When the Wolves Bite

Narrated by: Scott Wapner
Length: 8 hrs and 1 min
4 out of 5 stars (17 ratings)

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Publisher's Summary

The inside story of the clash of two of Wall Street's biggest, richest, toughest, most aggressive players - Carl Icahn and Bill Ackman - and Herbalife, the company caught in the middle.

With their billions of dollars and their business savvy, activist investors Carl Icahn and Bill Ackman have the ability to move markets with the flick of a wrist. But what happens when they run into the one thing in business they can't control: each other?  

This fast-paced book tells 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. Wapner, who hosted that memorable TV show, has gained unprecedented access to all the players and unravels this remarkable war of egos, showing the extreme measures the participants were willing to take.  

When the Wolves Bite is both a rollicking, entertaining listen - a great business story of money and power and pride.

©2018 Scott Wapner (P)2018 Hachette Audio

Critic Reviews

"Told in a breathless, urgent style, this is a trenchant business drama that brings life to its characters and will mostly appeal to business buffs." (Publishers Weekly)

"When the Wolves Bite reads like an action film with multiple combatants, but the story is told from a neutral corner, capturing all the nuance, drama, and importance of a giant battle. Scott Wapner provides great insights for all into a very complex world." (Michael Ovitz, cofounder of CAA)

"It's never about money. It's always about ego. This book is a telling examination of the psychology of billionaires trying to one-up each other." (Andrew Ross Sorkin, New York Times best-selling author of Too Big to Fail)

What members say

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  • Anonymous User
  • 03-06-2018

Great Story But Glitches

I have to admit I listened to this book in one day. It was truly interesting and gives great insight to the power players on Wall Street. As a general rule I don’t like the authors to read the book but in this case Me. Wagner did well. My issue is that there were multiple times the audio would jump or skip. For instance, when discussing the RJR Nabisco take over, the author (this is paraphrasing) says that it was the story told in .....then nothing. The book is Den of Thieves but it was either erased or there was a glitch. This happened multiple times and was quite annoying. But it is a great story and I enjoyed it immensely

64 of 66 people found this review helpful

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  • Ryan
  • 20-07-2018

War of two egos

Why not to let personal belief interfere with decision making. Great book excellent story and really edgy!

13 of 13 people found this review helpful

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  • Jordan
  • 16-07-2018

Fantastic listen. A few technical hiccups, but great content

Listened to this on a twitter recommendation from Marc Andreessen. I had originally followed the Herbalife short from a distance and then watched “Betting on Zero” on netflix and thought it was a fascinating story. This book scratched my itch to learn way more about it.

Devoured it on a road trip and really enjoyed it.

There were a few technical hiccups where lines abruptly ended and started at a new point, but it wasn’t too bad to follow around what happened.

11 of 12 people found this review helpful

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  • Twal
  • 07-08-2018

Why you shouldn't invest in Hedge Funds

I thoroughly enjoyed this audio book. I was surprised by the amount of ego that drove the decisions that were made by both sides. These Masters of the universe are suppose to be experienced businessmen who you would assume would use logic to invests their clients money. The amount of client money lost in this war would have done much better in a S&P 500 index fund. .

16 of 18 people found this review helpful

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  • Rory M.
  • 26-09-2018

Excellent recounting of epic battle

Fantastic, informative and entertaining audiobook about Bill Ackman and Carl Icahn’s battle over Herbalife. Goes into great detail and author has unique perspective.

4 of 4 people found this review helpful

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  • Nico Adamski
  • 25-04-2018

Great Listen

I loved to hear Scott’s interpretation of the events that unfolded as well as his additional insight. I’ll never forget watching the two legends duke it out in CNBC. This book isn’t too complicated of a read too, so I’d recommend it for anyone interesting in business or finance.

9 of 10 people found this review helpful

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  • Brandon L Wagner
  • 06-08-2018

Great Story

Overall a great story that's well written and will hold your interest, through a detailed account of what happened at Herbalife.

3 of 3 people found this review helpful

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  • Tom
  • 10-09-2019

A Business Winner

Even if you only caught CNBC for just a few moments the story will hold your interest. Scott did a good job telling his own story. CNBC and Bloomberg provide very interesting business stories. But Scott and CNBC really provided a great platform for this one.

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  • Matthew Kelly
  • 05-09-2019

Loved it

Wasn’t expecting this much depth into the people involved. Would love to here another one from this guy

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  • Count B
  • 12-08-2019

THIS IS NO ENRON BOOK- NOT EVEN CLOSE

The story is pretty good, two giant billionaire investors get into a fight, one side says HerbaLife will collapse, the other say it will not.

One plays the market short, saying stocks will collapse, the other plays it long, saying they will not, & that is the whole book. It builds & builds & then just whimpers out. One guy looses a pile of cash he can afford to loose & the other ads another pile to his already staggeringly big pile of cash. There is no real ending to it, very ordinary to say the least.

Dont bother. Buy Red Notice instead, that is a real money book that will keep you up at night as is just amazing.