Carl Icahn has been shaking up Wall Street for decades—and recently rebounded from a tough stretch
DELIVERING ALPHA -- Pictured: Carl Icahn, Icahn Enterprises Chairman during his keynote at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on Tuesday, September 13, 2016 at the Pierre Hotel in New York -- (Photo by: HeidiCarl Icahn has been shaking up Wall Street for decades, but for the last few years the legendary trader looked a little lost in the markets.
Icahn’s investment fund returned 7.9% in 2018, a year in which most hedge fund traders lost money and the U.S. market was down for the year. Ackman’s short against Herbalife turned out to be a loser for his Pershing Square hedge fund, and by the start of last year Ackman gave up and exited the position. Icahn sold a portion of his Herbalife stock in 2018. However, he kept a substantial long position and still owns 23% of the company. At $2.1 billion, Herbalife is by far the biggest single long position in Icahn’s investment fund.
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