Friday, 31 October 2014
Last updated 15 hours ago
Jan 9 2012 | 2:15pm ET
Carl Icahn's decision to get out of the hedge fund business in favor of managing his own money cost his former clients dearly last year.
Icahn's Icahn Capital soared 35% in 2011, he told the New York Post. The word comes eight months after Icahn returned all outside capital, telling clients that "the losses that were incurred by investors in our fund in 2008 bothered me a great deal more, in many respects, than my own losses." The firm had already suffered massive redemptions during the financial crisis.
"I didn't think we'd do so great this year, but we did very well," Icahn told the tabloid. "I was pretty hedged this year, too. I think we did very well, considering how hedged we were, and we continue to be quite concerned about the market."
The average hedge fund lost about 4%—or more—according to hedge fund indices.
On the bright side, investors got to take part in some of Icahn's gains last year. His fund was up 8.7% through the first two months of 2011.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.