Tuesday, 21 October 2014
Last updated 1 hour ago
Oct 3 2013 | 3:20am ET
Carl Icahn had his long-awaited dinner with Apple CEO Tim Cook this week, continuing his push for a huge share buyback.
Icahn told his followers on Twitter than he and Cook "had a cordial dinner" on Monday night, during which "we pushed hard for a 150 billion buyback." Icahn added that the two "decided to continue dialogue in about three weeks."
On Tuesday, Icahn made clear what his side of the dialogue would sound like: Further agitation for a $150 billion buyback program, financed by debt.
"I feel very strongly about this," Icahn told CNBC. "I can't promise you the stock will go up and I can't promise you they will do the buyback. But I can promise you that I'm not going away until they hear a lot more from me concerning this."
"It's a no-brainer and it makes no sense for this company with their multiple being so low not to do a major, major buyback," he continued. "And there's another reason that I mention, that I think might go forgotten: the fact that you can borrow money so cheaply today. I don't think we are going to see this again."
Icahn first publicized plans to dine with Cook in August, when he also announced that he had taken a "large position" in the company. He boosted his stake in September.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...