Friday, January 13, 2017

"Carl Icahn Has Chosen Trolling Bill Ackman Over Making Money"

From DealBreaker:
Now deep into his golden years, it seems Carl Icahn has decided that there are more important things than making money. Just days away from starting his dream job of managing the largest regulatory bonfire in history on the National Mall, for the past four years he seems to have derived most of his pleasure from torturing friend-turned-enemy-turned-friend-turned-maybe-enemy-again Bill Ackman.

Which is good, because for the last three of those four years, Icahn hasn’t been very good at making money. In fact, during that time, he’s actually been worse at it than Ackman, including a 20.3% drop in 2016 compared to Pershing Square’s 13.5% dip. Uncle Carl doesn’t seem to care. Instead,

infuriated by late-summer rumors that he was about to sell out HLF to Ackman, Icahn called off their truce and spent the ensuing months dumping another quarter-billion dollars into the stock, boosting his stake in the company to 23.1%. Shoving another 4.5 million shares in Ackman’s face may have been cathartic, if flatulence-inducing...