Aug 05

Carl Icahn Has Never Been More Short The Market, Is Pressing For A Crash:

So there was renewed speculation if Icahn had given up on his record bearish bet. So when overnight IEP released its latest 10-Q, we were eager to find out if Carl had unwound his record short, or perhaps, added more to it. What we found is that  one quarter after having a net short position of -149%, as of June 30, Icahn’s net position was once again -149%, or in other words, he has once again never been shorter the market.

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Aug 04

Trump Taj Mahal To Be Shuttered… Again:

In a move that couldn’t be worse timing for The Donald, the Associated Press is reporting that Carl Icahn is shutting down the Trump Taj Mahal casino in Atlantic City.  While Trump currently has no stake in the casino (he lost his ownership to bondholders in a previous bankruptcy filing) we have a sneaking suspicion that his rivals will take advantage of this opportunity to highlight his previous failed business endeavors.  For his part, Icahn acquired his stake in the Trump Taj Mahal during it’s previous bankruptcy filing.  Icahn is attributing the closure of the casino to a strike by its unionized workers over wages and health insurance costs.  The casino is expected to be closed after Labor Day and will result in 3,000 job losses for the struggling Atlantic City.

In comments made to the Associated Press, Icahn said that he lost nearly $100 million on the Taj Mahal in the past 18 months, including money he spent to keep it afloat during bankruptcy court before he even owned it, added that “It was a bad bet.  How much good money do you throw after bad?

Tony Rodio, CEO of the casino, said that Icahn has spent $100mm trying to save the Taj in Atlantic City.  He continued: Continue reading »

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May 10

With A Historic -150% Net Short Position, Carl Icahn Is Betting On An Imminent Market Collapse:

Over the past year, based on his increasingly more dour media appearances, billionaire Carl Icahn had been getting progressively more bearish. At first, he was mostly pessimistic about junk bonds, saying last May that “what’s even more dangerous than the actual stock market is the high yield market.” As the year progressed his pessimism become more acute and in December he said that the “meltdown in high yield is just beginning.” It culminated in February when he said on CNBC that a “day of reckoning is coming.”

Some skeptics thought that Icahn was simply trying to scare investors into selling so he could load up on risk assets at cheaper prices, however that line of thought was quickly squashed two weeks ago when Icahn announced to the shock of ever Apple fanboy that several years after his “no brainer” investment in AAPL, Icahn had officially liquidated his entire stake.

As it turns out, Icahn’s AAPL liquidation was just the appetizer of how truly bearish the legendary investor has become. Continue reading »

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Apr 28

“No Brainer” – Carl Icahn Dumps Entire Stake Of AAPL:

And just like that the “no brainer” party’s over. Remember when in January 2014 Carl Icahn laid out his extensive thesis on why being long AAPL is the best investment out there?  Or when a little over a year later, hoping for even more stock buybacks (even as he was decrying short term activism) he boosted his price target on AAPL to $240?  All that is now over and moments ago Carl Icahn admitted that the hedge fund hotel holding AAPL stocks, which consisted of 163 hedge funds as of December 31, has one less member, and he has sold his entire Apple position.

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Sep 21

Soros, Icahn and Major New Players Rushing Into the Gold Sector: “Things Are In The Works As We Speak”

The price of gold and silver is set to explode according to one of the most well known CEO’s in the precious metals mining space.

Keith Neumeyer, the CEO of one of the world’s lowest-cost primary silver producers, says that the negative headlines surrounding history’s most trusted monetary instruments will soon give way and the smart money, including the likes of George Soros and Carl Icahn, is taking massive positions ahead of the breakout.

Neumeyer, who has created two billion-dollar companies and recently founded the mineral bank investment firm First Mining Finance, argues that the fundamentals are simply too great to ignore. Continue reading »

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Sep 05

Icahn, Soros, Druckenmiller, And Now Zell: The Billionaires Are All Quietly Preparing For The Plunge (ZeroHedge, Sep 3, 2014):

“The stock market is at an all-time, but economic activity is not at an all-time,” explains billionaire investor Sam Zell to CNBC this morning, adding that, “every company that’s missed has missed on the revenue side, which is a reflection that there’s a demand issue; and when you got a demand issue it’s hard to imagine the stock market at an all-time high.” Zell said he is being very cautious adding to stocks and cutting some positions because “I don’t remember any time in my career where there have been as many wildcards floating out there that have the potential to be very significant and alter people’s thinking.” Zell also discussed his view on Obama’s Fed encouraging disparity and on tax inversions, but concludes, rather ominously, “this is the first time I ever remember where having cash isn’t such a terrible thing.” Zell’s calls should not be shocking following George Soros. Stan Druckenmiller, and Carl Icahn’s warnings that there is trouble ahead.

Billionaire 1: Sam Zell Continue reading »

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May 31

Icahn, Mickelson are investigated in U.S. insider trading probe: source (Reuters, May 31, 2014):

The U.S. Federal Bureau of Investigation and the Securities and Exchange Commission are investigating possible insider trading involving billionaire investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler William Walters, a source familiar with the matter said.

Federal investigators are looking into whether Mickelson and Walters may have traded illegally on private information provided by Icahn about his investments in public corporations, the source told Reuters, confirming reports on Friday. Continue reading »

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Mar 23

Which Firm Controls “The World’s Most Powerful Address”? (ZeroHedge, March 23, 2014):

For the answer of which firm is responsible, and has the largest number of current and former tenants occupying the building located at 15 CPW which we profiled before, and which Bloomberg TV defines as the “world’s most powerful address” – a location whose residents control nearly half a trillion in assets under management – fast forward to 3:20 in the clip below. Hint: listen for the “dog whistle.” 

(click here if the video does not appear)

For those curious, here are some additional facts about 15 CPW courtesy of Curbed. Continue reading »

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Oct 23

Carl Icahn Covers 3 Million NFLX Shares On 457% Gain (ZeroHedge, Oct 22, 2013):

Just as we wondered earlier in the day…

What is perhaps most worrisome for the market is the sale of 2.99 million shares collapsed the market cap by around 20%

Our guess is that there is no way Icahn announced this without protecting the rest of his position… so expect volatility to get a little crazy as the OTC positions begin to be unwound and more of his position unwound… Continue reading »

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