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Icahn is out. Carl Icahn’s hedge-fund to return investor’s $$$: What does he know that the rest of us don’t?



March 08, 2011 – Comments (5)

Billionaire capitalist Carl Icahn, one of the most successful investment managers this nation has ever seen—Icahn’s hedge-fund has had returns averaging over 100% for investors since it began—sent his clients a letter stating his intention to return their money by April.  Icahn cites concern for potential losses as the reason he intends to return 95% of his fund’s outside capital.

Icahn wrote:

“While we are not forecasting renewed market dislocation, this possibility cannot be dismissed. Given the rapid market run-up over the past two years and our ongoing concerns about economic outlook, and recent political tensions in the Middle East, I do not wish to be responsible to limited partners through another possible market crisis.”

Read Icahn’s full letter at the NY Times DealB%k blog.

5 Comments – Post Your Own

#1) On March 09, 2011 at 3:00 AM, checklist34 (98.59) wrote:

ichan is IN

he just doesn't want to fritter around with other peoples investment $$$ when his own $$$$ are many times more and he gets ALL of the return instead of presumably about 20%

so he's given upa bout 5% of return, he doesn't care

but he DOES care about the hassle of angry demanding investors and SEC regulations

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#2) On March 09, 2011 at 9:33 AM, djemonk (< 20) wrote:

I think he's also like 900 years old.  He may not want the hassle of explaining to people that when the market crashes, it's not a good time to panic and sell.  Again.

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#3) On March 09, 2011 at 11:47 AM, EnigmaDude (58.39) wrote:

Nice try, but this news still does not validate the fear-mongering, looming market crash prediction that you have been making for as long as I have been on CAPS (since 2007).  Maybe if you wrote a longer blog title...

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#4) On March 09, 2011 at 1:29 PM, leohaas (30.14) wrote:

Sounds a bit like a politician who decides not to run for re-election "to spend more time with the family." It can mean anything. Feel free to speculate...

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#5) On March 09, 2011 at 7:21 PM, FleaBagger (27.48) wrote:

I still think we are in part of a long-term, inflation-adjusted bear market, but I think the market's numerical values may be headed up throughout (with a few seemingly minor pullbacks). Unless Bernanke and Obama change their profligate ways, 100 shares of SPY will be worth fewer grains of rice in 2013 when Obama leaves office than they are worth today.

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