Friday, 29 August 2014
Last updated 9 hours ago
Jan 22 2014 | 1:41pm ET
Approaching his 78th birthday, Carl Icahn is showing no signs of slowing down.
The billionaire's investment fund returned 31% last year, more than three times the gain of the average hedge fund, his Icahn Enterprises said in a recent presentation. And Icahn has at last revealed the size of his position in Apple Inc.—and it is now more than $3 billion.
Icahn's fund benefited from huge gains by big holdings such as Netflix, Chesapeake Energy, Forest Laboratories and Herbalife. In addition, Icahn Enterprises stock jumped 158% in 2013.
In 2014, Icahn is betting big on Apple, which is now his largest holding, $1 billion larger than his investment in Forest. Icahn said today on Twitter that he had bought another $500 million in Apple shares over the past two weeks, increasing his stake in the company to more than $3 billion yesterday.
Icahn had not previously disclosed the size of his Apple horde.
"Since tweeting about our large position in $AAPL on Aug 13, when the stock was $468 per share, we've kept buying shares of this 'no brainer,'" he said. Apple shares were trading at about $550 today
"No brainer" it might be, but that doesn't mean Icahn thinks it can't be made better: He has pushed Apple to hold a $150 billion share buyback, and is promoting a non-binding shareholder resolution calling for Apple to launch a $50 billion program right away.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...