European Shorting
Number of Stocks: 19
Number of New Stocks: 4
Total Value: $16,957 Mil
Q/Q Turnover: 10%
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The always vocal Carl Icahn continues to hold positions which allow him to criticize upper management as well as demand board seats for himself or his partners. Staying true to his image, Icahn made four new buys in the first quarter, with two of those companies being highly popularized and controversial. Icahn only increased his holdings in one company (highlighted below) and did not sell out or decrease his holdings in any stock. As of the end of the first quarter 2013, Icahn held on to 19 stocks that were valued at $16.957 billion.
"I've been on the other side of him [Chanos] many times and I've made fortunes being against him," said Icahn. "I don't mean this in a derrogatory way, but I don't see Chanos on the Forbes 400 list," he said.
The GuruFocus 52-week low screener reveals that Nuance Communications Inc. (NUAN) is at a 52-week low of $18.94 (high was $25.89). According to the GuruFocus Value Screen for 52-week lows, NUAN is 26.8% off the high. But activist investor Guru Carl Icahn of Icahn Capital Management is putting his dough on this amazing voice recognition and imaging systems company that, in hindsight, has made television's old “The Jetsons” cartoon look like a kind of inspirational blueprint for today’s talking cars and interactive smart phones.
In 1926 Nikola Tesla, scientist, futurist and inventor, stated: "When wireless is perfectly applied the whole earth will be converted into a huge brain, which in fact it is, all things being particles of a real and rhythmic whole." In the 1960s philosopher Marshall McLuhan’s vision of technology in a media-dominated global village was that it translates "our entire lives into the spiritual form of information" and unifies the entire globe and the human family into a single consciousness.
After experiencing a roller-coaster of a year in 2012, jam-packed with investigations, falling market value, public scrutiny and company shareholders demanding his ouster, Chesapeake CEO Aubrey McClendon has announced his decision to resign, sending Chesapeake (CHK)’s stock to surge about 11 percent yesterday after the news broke.
I have seen a lot of things in my two decades in the investment industry, but seeing a verbal cage fight between a senile 76 year-old corporate raider and a white-haired, 46 year-old Harvard grad makes for surprisingly entertaining viewing. The investment heavyweights I am referring to are the elder Carl Icahn, Chairman of Icahn Enterprises, and junior Bill Ackman, CEO of Pershing Square Capital Management. If getting a few billionaires yelling at each other on live TV is not enough to interest you, then how about adding some tongue-laced f-bombs coupled with blow-by-blow screaming from background traders? What’s the source of the venomous, spitting hatred between these stock market tycoons? In short, it can be boiled down to a decade old lawsuit (profitable for both I might add), and a disagreement over the short position of a controversial stock, Herbalife (HLF). Regarding the legal spat, in 2003 the SEC was investigating Ackman while his Gotham Partners hedge fund was collapsing, so Ackman asked Icahn to buy shares of Hallwood Realty in hopes of salvaging his fund. Eventually, Icahn bought shares, but a difference in opinion over the transaction led to a lawsuit that Icahn lost, thereby forcing him to pay Ackman $9 million.
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