Kyle Bass, founder and principal of Hayman Capital Management, says he believes Herbalife is not a ponzi scheme and is a legitimate business model on an interview with CNBC. He even goes as far as saying they’ve had one of their own traders sign up with Herbalife to gain an understanding of the model to make sure it’s legitimate. 
Bass became well-known after successfully predicting and benefitting from the subprime mortgage crisis by purchasing credit default swaps on subprime securities issued by various investment banks (similar to shorting the bonds).
Bass has since continued to attract media attention for his prediction of the European sovereign-debt crisis and his expectations regarding the economic future of Japan and Argentina.
Bass reminded CNBC viewers that Ackman originally went long on Pre-Paid Legal stocks (now a privately held company called Legal Shield) and shared his views on it not beign a pyramid scheme, nearly an identical explanation to why he thinks Herbalife is a pyramid scheme and is shorting that stock instead. 
How long Ackman will continue to battle the Herbalife stock remains to be seen as he placed a hefty $1 Billion dollar short on the company about a year ago. The Herbalife/Ackman battle has become one of the most talked about

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