Billionaire Carl Icahn returns $1.76B to investors

Associated Press ^ | March 8, 2011 | PALLAVI GOGOI

[decimon]

NEW YORK – On the eve of the bull market's second anniversary, billionaire investor Carl Icahn had an unsettling message for his investors: Take your money back. Icahn told investors in his hedge funds that he didn't want to be responsible to them for "another possible market crisis," especially given the rapid increases over the past two years. Stocks have nearly doubled since hitting 12-year lows on March 9, 2009.

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Not everyone believes Icahn is returning his investors' money because he's bearish about the markets.

Jack Ablin, chief investment officer at Harris Private Bank, said Icahn is likely trying to avoid regulatory scrutiny. Under new laws, hedge funds have to register with the Securities and Exchange Commission and allow the agency to inspect them.

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[griswold3]

I’d listen to Carl more than Warren.

[Solar Wind]

I’d listen to Carl more than Warren.

Carl Icahn is very shrewd and his business sense is undervalued. I have personally worked for two companies that Carl Icahn has eventually taken over. His assessment of the companies was startlingly accurate. He saw their strengths and their weaknesses. Most importantly he saw what to do to make them winners. He is not a corporate raider but a builder who can make tough decisions.

Mr. Sol.

[americanophile]

Unsettling.

[OB1kNOb]

I'm amazed at the lack of comments this thread has generated. This admission by Icahn would appear to me to be almost as noteworthy as the thread regarding Bill Gross' recent admission that he's gotten totally out of US Bond market. These are big guys making some very stark admissions regarding what they see in the future of our economy.

I cannot think of any reason why these two powerplayers would see the need to make such economically inflammatory remarks, if they truly did not think it was so. Perhaps if I'm too naive in this respect someone can explain to me what they guys would have to gain by making such bold dark predictions.

[decimon]

I'm amazed at the lack of comments this thread has generated.

There may have been similar threads I missed in searching. Or it's not as good a thread as you and I thought. ;-)

[paulycy]

I'm amazed at the lack of comments this thread has generated. There may have been similar threads I missed in searching. Or it's not as good a thread as you and I thought. ;-)

We were talking about it yesterday...

[decimon]

We were talking about it yesterday...

I posted this the day before yesterday. :-)

[paulycy]

We were talking about it yesterday... I posted this the day before yesterday. :-)

AHH! I missed that entirely! (blush)