Yesterday the big story in the markets, well besides $AAPL dropping about $50 billion in market cap, was the phoenix like resurrection of $NFLX. But somewhat overlooked was the fact that the 43% jump in stock price brought activist investor Carl Icahn’s profit on his position to roughly $750 million.
I’ve always liked Icahn because he speaks his mind and is a no bullshit guy. And I love the fact that at the age of seventy-six he is at the top of his game, not just content to sit on his $14.8 billion in personal wealth, but jumping into some of the most beaten down stocks like $NFLX, $HLF, and (rumored) $RIMM, and slugging it out with incompetent management.
Icahn’s life and the history of his transactions are just begging to be tackled by a serious writer in the same style as was done with KKR in The New Financial Capitalists. Until then check out one of the few true biographical pieces on him done by 60 Minutes. Although shot in 2008, it is still a fascinating look into this financial giant’s world. (My favorite part is his description of the typical CEO that he is up against at the 5:40 mark).
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Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading - The Best of the Best: Top Trading Tips For Our Times by clicking here.