Tuesday, 5 May 2015
Last updated 12 hours ago
Nov 13 2007 | 7:41am ET
It wasn’t exactly Bill Miller’s storied streak, but Carl Icahn’s three-year run of positive quarterly returns has come to an end.
Icahn Capital Management posted $133.7 million in losses, amounting to a 1.5% decline, according to a regulatory filing last week. The majority of the losses were in investments in homebuilder WCI Communities and aircraft maker Lear Corp.
ICM’s returns were “impacted by volatile market conditions as well as equity positions related to consumer, real estate and financial sectors that represented losses for the quarter,” the firm wrote.
Icahn manages more than $7 billion and had enjoyed average annualized returns of 25.8% until this past quarter. In spite of the third quarter’s slip, the funds are still up 19.8% through October.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…