With his brand of activist investing as popular as ever, Carl Icahn has consistently been beating the stock market indexes and the vast majority of richly-paid hedge fund managers over the last five calendar years. He is on his way to doing it again in 2014.
After a tough first quarter that saw Icahn's investment fund, which he uses to bet on stocks with his own money and money belonging to his publicly-traded Icahn Enterprises, fall by 0.4%, Icahn rebounded in a big way in the spring. Icahn's investment fund returned 10.7% in the second quarter, according to comments SungHwan Cho, Icahn Enterprises' chief financial officer, recently made on a conference call.
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Icahn finished the first half of 2014 with his investment fund up 10.2%. That beats the return of the Standard & Poor's 500 index, which returned 6.05% over the same time period. It also crushed the average hedge fund manager, who returned 3.2% this year through June, according to HFR.
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