Wednesday, 20 August 2014
Last updated 11 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note