Message From a Salesman

[midwesterner (banned)]

Message From a Salesman

Billionaire Carl Icahn returns $1.76B to investors

NEW YORK (AP) -- 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.

Icahn, who has built a fortune from taking stakes in well-known companies and then pressing for changes, also said he was concerned about the economic outlook and political tensions in the Middle East. Icahn's targets over the years have included Yahoo Inc., RJR Nabisco and Revlon.

"While we are not forecasting renewed market dislocation, this possibility cannot be dismissed," Icahn said in a letter to his limited partners. The letter was dated Monday and disclosed in a regulatory filing Tuesday.

For the kind of activism that Icahn is involved in, it didn't help that investors were pulling their money out. Activist investors operate in some ways like private-equity funds, said Damien Park, managing partner at Hedge Fund Solutions, which advises investors and companies on shareholder activism.

Park said that such flight of capital hurts their longer term strategies since they need to have ample capital on hand to manage an activist campaign, which can run as long as two or three years.

finance.yahoo.com/news/Billionaire-Carl-Icahn-apf-2296982296.html?x=0

[midwesterner (banned)]

Mar 8, 2011 20:04:59 GMT -5 @franktheimpaler said:

A lot of old hedge guys are giving back the money...they don't want an accident to ruin their track records.....or Mr. "I" has a deal coming up that he doesn't want to include his investors in...you know he's done that before!

And fix the header it's "SALESMAN"...not sale man...sheeesh!

Amazing how you were the first one here to respond. Any particular reason this thread struck your interest so fast? You hardly post in my threads, yet jumped on this one so fast and felt the need to respond in a defensive manor towards this fund manager. Just an observation.

Have a good evening.

[vl]

"Sale Man" was probably most accurate. He might also recognize where he is at as being akin to puss building up in the head of a pimple and a Super Oxi-Pad scrubber in the hand of Fate.

[vl]

you can't do what he used to do anymore

Read more: notmsnmoney.proboards.com/index.cgi?board=moneytalk&action=display&thread=4504#ixzz1G3rCbsQZ

But there will always be those who are enamored by the Hollywood of it and go aboard trying to be famous for something similar. We stink with them right now.

[Virgil Showlion]

How predatory can he be? There's a big schism between foisting off billions in junk bonds and returning investors' cash because of performance concerns.

[vl]

Do you have anything to do with the "break room" sludge destroying these boards, Frank? Sorry, but there are 5-6 posters who do nothing but condemn everybody else's posts with mockery and guttural sarcasm.
Our banter here was the closest to a conversation I've had in weeks.

[vl]

Sorry, the majority felt otherwise and are gone.

[usaone]

Mar 9, 2011 7:22:39 GMT -5 @vl said:

Sorry, the majority felt otherwise and are gone.

The majority are gone?

2 people do not make a majority.

[decoy409]

Death of a salesman, great article Mid. The point is, he gave it back! That's great!