• 08 Mar 2011 at 10:45 AM

Carl Icahn Returning Money To Investors

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According to Carl, he’s still shaken by the losses of 2008- those of investors, not his own- and wants to wash his hands of this whole thing. Letter via Dealbook:

Icahn letter to investors

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Comments (74)

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  1. 1
    Posted by GuestyMcGuestersen | March 8, 2011 at 4:45 PM

    I’d ride the Obama wave man! We’re on a straight shot to the moon!

  2. 2
    Posted by Non-Entity Hedge Fund Manager | March 8, 2011 at 4:51 PM

    No pill for this performance issue…

  3. 3
    Posted by Non-Entity Hedge Fund Manager | March 8, 2011 at 4:51 PM

    No pill for this performance issue…

  4. 4
    Posted by QuaintQuant | March 8, 2011 at 4:51 PM

    Officially its unofficial, but that could change if it becomes official. Refrigerator.

  5. 5
    Posted by QuaintQuant | March 8, 2011 at 4:51 PM

    Officially its unofficial, but that could change if it becomes official. Refrigerator.

  6. 6
    Posted by analyeast | March 8, 2011 at 5:00 PM

    Damn, this is pretty bearish

  7. 7
    Posted by Chuddy | March 8, 2011 at 5:41 PM

    Icahn hasn’t been right on an investment since the Reagan Administration – thus I feel this is an extremely bullish signal for the market.

  8. 8
    Posted by Jim Simons | March 8, 2011 at 5:42 PM

    Carll, returning all LP’s assets sounds perfectly logical to me. One idea you might consider is raising a separate fund with huge fees that does similar strategies to your core approach but not exactly and thereby underperfroms substantially but still gives you a significant fee income on the side.

  9. 9
    Posted by ReturnFreeRisk | March 8, 2011 at 5:45 PM

    I’ll take not being right in over two decades if it means I run a $7bln fund where less than $2bln is from outside investors. Maybe you have higher expectations. However, I am surprised that you have time to post on here, Mr. Simons.

  10. 10
    Posted by Carl | March 8, 2011 at 6:36 PM

    Dear L.P.

    It’s not you, it me. You’re a really great L.P. and deserve so much better. I would just be holding you back. Here’s your money.

  11. 11
    Posted by Carl | March 8, 2011 at 6:36 PM

    Dear L.P.

    It’s not you, it me. You’re a really great L.P. and deserve so much better. I would just be holding you back. Here’s your money.

  12. 12
    Posted by Mark | March 8, 2011 at 6:46 PM

    You hate to watch another tired man lay down his hand like he was giving up the holy game of poker

  13. 13
    Posted by Guest | March 8, 2011 at 6:58 PM

    Dear Carl,

    Would you please send me the redemption attachment. It was inadvertantly left out of the letter.

    Thanks,

    Bernie

  14. 14
    Posted by Joeogan | March 9, 2011 at 12:52 AM

    I am somewhat dubious when someone offers to give my money back!

  15. 15
    Posted by Joeogan | March 9, 2011 at 12:52 AM

    I am somewhat dubious when someone offers to give my money back!

  16. 16
    Posted by C. Icahn | March 9, 2011 at 9:35 AM

    You can all stick your paltry $1.76 billion where the sun doesn’t shine!

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    Posted by Guest-o-licious | March 9, 2011 at 4:13 PM

    Isn’t he basically just buying out his “partners” that invested (albeit only 25%) capital up front. This seems to actually be a pretty bullish move on his portfolio. I wonder what the LPs valued CCI’s put option of investor capital back at (presumably) FMV. While I don’t know the portfolio’s holdings, certainly some are illiquid or thinly traded. Is Bear Stearn’s CMO desk going to value those holdings for the audit? Sorry, but I’m a little skeptical of the “I would feel bad if you lost money, so I’m going to give it back to you and take over your position for you because I’m a really nice guy…” story.

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