Icahn's Hedge Funds post losses
| July 3rd, 2008 | ||
| Carl Icahn's hedge funds posted a loss of 7% between October and April, their biggest loss since their opening in November 2004. In addition to falling equity markets and a slow economy, he has recently faced obstacles in shareholder activist battles. Icahn has lost money on Motorola, his biggest investment. Although he failed to win a board seat, he succeeded in pressuring the company to spin off their handset unit. He has also been unsuccessful in his efforts at Biogen and Yahoo so far. Icahn's biggest success this year has been at BEA Systems, which was acquired by Oracle Corp at $19.38. However, some project lumpy returns for activist investors as a whole. In 2006, the Icahn Fund rose about 29 percent. | ||
For Detailed Investor Profiles on these Investors, click below: |
Icahn Associates (Carl Icahn) |
Related People: Alexander J. Denner;
Related Entities: High River Limited Partnership;
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