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