Ten years ago, Carl Icahn hired his son Brett to be an analyst at Icahn Enterprises and the kid didn't fuck anything up so he got to keep his job. Two year ago, Carl gave Brett and another employee, David Schechter, $300 million to invest under the "Sargon portfolio," and the guys returned 96 percent (before fees) through June. Last month, Carl tossed the duo an additional $3 billion and a contract that expires in 2016, at which time Papa Icahn will either officially Brett a worthy successor or offer to serve as a reference for his next gig. Under a 46-page legal agreement filed with federal regulators last month, Brett Icahn and Schechter will get to invest their boss’s capital in companies with stock market values between $750 million and $10 billion. The deal may free the elder Icahn, who still has final say over many aspects of the portfolio, to focus on larger targets for shareholder activism. Brett, who turns 33 this month, along with Schechter has been running $300 million for his father, who owns more than 90 percent of Icahn Enterprises LP, a holding company with $24 billion in assets including activist investing partnerships as well as the Tropicana casinos, an oil refiner and an auto-parts maker. The arrangement expires after Carl turns 80 in 2016, giving Brett the chance to both prove his mettle as a successor and develop a track record to start his own hedge fund. After hiring Brett as an investment analyst a decade ago, Icahn allocated the $300 million to his son and Schechter in April 2010 to invest in loans and securities of companies with less than $2 billion in equity value. Their investments, internally dubbed the Sargon portfolio, generated a gross cumulative gain of 96 percent by the end of June, according to a July 27 filing with the U.S. Securities and Exchange Commission...“These two guys doubled our money over the last two years,” the elder Icahn said in an interview. “You can’t complain about that.” Carl Icahn Hands Son Brett $3 Billion To Prove His Mettle [Bloomberg]

If you like numbers in the range of one billion.

As Dealbreaker historians will recall, last March marked our first Dealbreaker NCAA Tournament Challenge. It was inspired by a financial services hack who made the public announcement that he planned to (anonymously) report any colleagues he caught filling out brackets and keeping tabs on their picks during business hours. At the time, we encouraged you all to enter as many pools as were available, making it impossible for him to keep up with the amount of people and their offenses he needed to rat out, and created one to do our part. Is this guy still on the loose? He very well might be but regardless: never forget. To that end, sign up for the Second Annual Dealbreaker NCAA Tournament Challenge today. If you need reason beyond being able to say you won the DBNCAATC, first place will receive dinner for him/herself plus some colleagues and/friends at Peter Luger's, an outing funded by us,* a Greenlight Capital messenger bag, a Pershing Square golf umbrella, a pair of Third Point-branded running sneakers, and an I Heart Dealbreaker button.** The pool will once again be managed by Dealbreaker Commenter and Friend NakedShort, who, along with myself, will answer any questions you might have, provide color if warranted (rip everyone’s brackets to shreds, call out the bottom 5 performers), etc. Sign up here now.*** So it is abundantly clear, if you do not want participants to know your real name, MAKE SURE TO FILL OUT SOMETHING ELSE IN THE NAME FIELDS. For example, if your ID is Godswork, rather than writing Lloyd B, enter first name: Gods, last name: work. To that end, if you don’t want people to see your email address, from the bracket page, click ‘options’ and then ‘hide email.’ If you feel it necessary, create an entirely new email account specifically for this challenge. Finally, don’t use HisHoliness as your ID because Alan Greenspan’s already called dibs. The pool password is: animalliar Dealbreaker NCAA Tournament Challenge [CBS Sports] *Last year we offered Wall Street North favorite Beamers Cafe, but the winner had "already seen all Beamers had to offer," and choose an alternative venue. This year, feel free to think outside the box. **If any other hedge funds, private equity firms, or banks would like to be represented via swag, feel free to get in touch! ***NakedShort says you have until Thursday morning to fill out a bracket but you should just get on this ASAP.