Chairman of Icahn Enterprises Carl Icahn at a panel discussion at the New York Times 2015 DealBookNeilson Barnard/Getty Images for New York Times
Icahn’s investment fund lost 7.3% in the third quarter of this year and is down 15.6% in the first nine months of 2019, according to an Icahn Enterprises report that was filed with the Securities & Exchange Commission on Tuesday. Icahn’s long-held stake in Herbalife, now his investment fund’s second-biggest position, has hurt Icahn’s trading performance this year. The stock is down 24% in 2019. But the core issue for Icahn has been his persistent bearishness on the stock market.
Last year, as the U.S. stock market tumbled in the fall, Icahn’s investment fund finally benefited from its short positions and finished 2018 up 7.9% while many other traders were losing money. But the stock market has come roaring back in 2019.
-16%... Most of these 'legends' got lucky one time..
Sheesh.
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Source: Reuters - 🏆 2. / 97 Read more »