Carl Icahn

Carl Icahn

Last Update: 03-17-2017

Number of Stocks: 19
Number of New Stocks: 0

Total Value: $22,374 Mil
Q/Q Turnover: 3%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Carl Icahn Watch

  • Carl Icahn Increases Stake in Struggling Chesapeake Energy Corp.

    Carl Icahn, billionaire activist investor, increased his stake in Chesapeake Energy Corp. (CHK) for the first time in two years. The natural gas and oil company has been struggling due to falling oil prices, and many investors have turned bearish on the stock.

    On March 11, Icahn purchased 6.6 million shares of CHK for $14.15 between High River LP, Icahn Partners LP and Icahn Partners Master Fund LP. This transaction increases Icahn’s stake in the energy company from just shy of 10% to 11%. He is the second-largest shareholder with 73.1 million shares behind Southeastern Asset Management Inc. with 76 million shares. The transactions were filed with SEC on March 23.


  • Should You follow Carl Icahn and Larry Robbins and Buy Manitowoc?

    Larry Robbins (Trades, Portfolio) of Glenview Capital Management has recently initiated a long position in Manitowoc (NYSE:MTW) by buying over 8.6 mn shares of the company. Last quarter, another noted investor Carl Icahn (Trades, Portfolio) bought Manitowoc's shares with intention to force management to spin-off the company's Food Service equipment business. Icahn also added more shares to his position in January and currently holds 10,582,660 shares of Manitowoc.

    The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer operating in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). The company's Crane segment is recognized as one of the world’s leading providers of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks. It accounts for ~62% of the company's top line. Manitowoc's Foodservice segment is one of the world’s leading innovators and manufacturers of commercial food-service equipment serving the ice, beverage, refrigeration, food-preparation, holding and cooking needs of restaurants, convenience stores, hotels, healthcare and institutional applications. It accounts for ~38% of the company's revenues.


  • Bill Ackman: Carl Icahn Is Stuck with Herbalife

    Pershing Capital Management Founder and CEO Bill Ackman (Trades, Portfolio) spoke with FOX Business Network’s (FBN) Deirdre Bolton regarding the recent report that federal prosecutors and the Federal Bureau of Investigation (FBI) are probing potential market manipulation of Herbalife. On whether Herbalife can clean up their act, Ackman said, “there is no future for Herbalife as a legal company,” and, “I have a lot of confidence in the Department of Justice.” Ackman goes on to say, “we are totally open to full and fair look into details,” and that the senior management at Herbalife “knows they are running a pyramid scheme.” On Carl Icahn (Trades, Portfolio)’s relationship with Herbalife Ackman said, “I think Carl Icahn (Trades, Portfolio) at this point is actually stuck,” and, “If Carl wanted to sell the shares he’d have to get off the board.” On the direction of the investigation Ackman said, “I don’t think we will be here two years from now,” and, “either the business will have imploded or the government will have shut it down.” In regards to the average retailer Ackman said, “I get an enormous number of thank you notes, emails from your average retail investor who have followed us.”

    Video Links:   

  • A Look at Carl Icahn's Investment in Navistar

    Billionaire investor Carl Icahn (Trades, Portfolio) is known for his activist campaigns. Navistar (NYSE:NAV) is one of his activist targets. He started building a position in the company in late 2011 and has been slowly increasing his stake. Last quarter, he purchased 1.94 million shares of the company. He currently holds 16.27 million shares of Navistar. Here's a look at the company's business in detail.

    Business Overview


  • Navistar Might Be Worth Watching For Investors

    There are some fairly pervasive concerns for investors in 2015. China has been slowing so the effects and extent of government stimulus are being scrutinized. There is also difficulty in Europe, which has recently launched its own version of quantitative easing. Further, the United States dollar has been rapidly strengthening against virtually all other currencies making the products of the biggest companies more expensive to their consumers. With all these things in mind, success could potentially be found in a corporation with little exposure to the specified issues.

    Meanwhile, the domestic economy is doing well by several measures. We have improving employment data and a net benefit from lower fuel prices. A widely quoted survey from the National Association of Business Economics forecasts 3.1% economic expansion in 2015, literally powering the rest of the world. Also, while there has been an ongoing expectation of an interest rate hike from the Federal Reserve, any such action appears to have been delayed. Hence there is reason to believe that some cyclical businesses are poised to do well.


  • A Look at Carl Icahn's investment in Manitowoc

    Billionaire investor Carl Icahn (Trades, Portfolio) is known for his activist campaigns. Last quarter, he bought Manitowoc's (NYSE:MTW) shares with intention to force management to spin-off the company's Food Service equipment business. He also added more shares to his position in January and currently holds 10,582,660 shares of Manitowoc. The company recently agreed to his demand to split the company. Here's a look at the company's business in detail.

    Business overview


  • Carl Icahn Raises Stakes in HTZ, IEP and New Buy MTW

    Carl Icahn (Trades, Portfolio) of Icahn Capital Management LP recently increased his stakes in three positions, while also adding a new position to his portfolio of 27 stocks, valued at $31.89 billion and a quarter over quarter turnover rate of 2%.

    Here's a look at his latest additions:


  • Herbalife's Faceoff Against Financial Market Coup

    Globally known MLM based healthcare product maker Herbalife (NYSE:HLF) has some major players in finance betting against the company due to its controversial practices. Ever since the US dollar had been gaining in strength since November 2014 versus other major currencies, and also the news of pending probes against the company coming to light, the stock seems to be going downhill. After Herbalife had posted its below-expected earning of Q3 2014, analysts like Timothy Ramey of Pivotal Research Group, has come down heavily to cut down on estimates of the stock price, from $110 to $75. The EPS estimates have been cropped as well, going from $1.34 to $1.22, alongside the 2015 full-year estimates, going down from $5.50 to $5.00. The net income from Q3 2014 went down by as much as 92%, owing to the pre-tax charges it faces from the reassessment of audit of assets and liabilities in the Venezuelan Bolivar. In short, there are problems all around.


  • Carl Icahn Comments on Apple, Sees Its Market Cap North of $1 Trillion

    On February 11, 2015 legendary investor Carl Icahn released a letter to his twitter followers discussing Apple, Inc.'s (AAPL) prospects. Apple is one of the biggest postitions in Carl Icahn (Trades, Portfolio)'s portfolio and Icahn has been a vocal activist shareholder of the company in the recent years. In yesterday's letter, Icahn has argued that the company's stock price could gain 84% from the current levels. His adjusted EPS forecast for FY2015 is $9.70. Since Apple is growing at a faster rate than S&P 500, he believes Apple should get higher P/E multiple than the broader markets. S&P 500 is trading at a P/E of 17x. According to Icahn, if one gives Apple's core business a P/E of 20x and adds back $22 cash per share, he/she will get a target price of $216 per share.

    Carl Icahn's detailed forecast for Apple's earnings can found here and here. Below is his complete letter (Source: Shareholder's square table).


  • Carl Icahn Writes Letter To His Twitter Followers Concerning Apple

    Dear Twitter Inc (NYSE:TWTR) Followers:

    We were pleased to hear Tim Cook yesterday state publicly: “By and large, my view is, for cash that we don’t need – with some level of buffer – we want to give it back [to shareholders]. It may come across that we are, but we’re not hoarders.” This position with respect to excess cash is great news for shareholders, and we look forward to the capital return program update in April, anticipating it will include a large increase to share repurchases.


  • Icahn's Letter on His Agreement With Manitowoc

    Carl Icahn (Trades, Portfolio) of Icahn Enterprises (NASDAQ:IEP) has released an letter today that goes into detail about his agreement with Manitowoc and what they agreed to.

    Carl Icahn (Trades, Portfolio) Letter About Manitowc Agreement


  • Carl Icahn Pens A Letter Discussing His Settlement With The Manitowok Company

    New York, New York, February 9, 2015 – Today Carl Icahn released the following statement regarding The Manitowoc Company, Inc. ("Manitowoc"):

    Over the past month, we have had a number of meetings with representatives of Manitowoc (NYSE:MTW) in which we have explained the merits of separating the company into two independent publicly traded companies. We have discussed at length our belief that having disparate, unrelated businesses trapped in a single company reduces value by, among other things, limiting the ability of those businesses to (A) attract top management, (B) engage in mergers and acquisitions and (C) be acquired themselves. We gave Manitowoc a myriad of examples where our involvement in separating such businesses resulted in a tremendous increase in shareholder value, such as the separation of Motorola into Motorola Mobility and Motorola Solutions (NYSE:MSI). We have also spent significant time with Manitowoc's representatives discussing the importance of shareholder friendly corporate governance provisions, including having annual elections of directors.


  • Apple Should Do A Bigger Buyback

    Carl Icahn (Trades, Portfolio) of Icahn Enterprises (NASDAQ:IEP) and his son Bret Icahn appeared on CNBC to discuss Apple (NASDAQ:AAPL). Carl Icahn (Trades, Portfolio) made its clear that he is pleased with Apple and thinks that Tim Cook is doing a great job. During the interview Carl Icahn (Trades, Portfolio) said a short squeeze is now occurring in Apple and a bigger buyback should be done. He's pleased with Apple quarter, and he will revise guidance. Bret Icahn and his portfolio management partner David Schechter of Sargon Portfolio provide their perspective on Apple. David Schechter said that Apple strong quarter results has caused him to revise his model an that Apple to sell for higher valuation.

    Part 1


  • Ebay and Icahn New Standstill Agreement

    Since Carl Icahn (Trades, Portfolio) took a stake in Ebay (NASDAQ:EBAY) his has been pressing the firm to spin-off paypal, change in the board room, and even a sale of the whole company. Icahn went after board members mainly Marc Andreessen who firm made massive profits from buying skpe from Ebay for $2.75 billion and selling its to Microsoft (NASDAQ:MSFT) for over $8.0 billion. This back an forth between Icahn and Andreessen lead to Him and two other board members stepping down. Even after Ebay said it wont spin-off paypal over and over. When on to announce a spin-off after Apple (NASDAQ:AAPL) announced Applepay. Ebay and Icahn throughout 2014 had two agreements between them that fell apart multiple times. Now a new standstill agreement has been announced with Icahn getting to board seats.

    Details of Ebay's and Icahn's Standstill Agreement


  • Carl Icahn Letter On His Standstill Agreement With Ebay

    Carl Icahn (Trades, Portfolio) Letter From Shareholder RoundTable



  • Carl Icahn Ups Stake in Manitowoc Co

    Carl Icahn (Trades, Portfolio) reported Friday that he purchased more shares of a crane and foodservice company in which he began investing in December and which he planned to push for separating into two entities.

    Icahn added 50,000 shares to his holding of Manitowoc Co. (NYSE:MTW), for a total stake comprising 10,582,660 shares, or 7.81% of the company’s outstanding shares.


  • Manitowoc Company: Carl Icahn's Next Target

    Manitowoc Company (MTW) has become Carl Icahn (Trades,Portfolio)'s next activist target, announcing on December 29, 2014, that he had taken a 7.77% stake in the company. Carl Icahn (Trades, Portfolio) said in his SEC filing that he believed that the firm is undervalued. He went on to say that Manitowoc should separate its two division into two separate companies to unlock value. He isn't the only activist investor to get involved. Relational Investors LLC has also disclosed an 8.52% stake in the firm and is seeking to separate the foodservice business into a separate company. With the company underperforming its peers and the market as a whole, it isn't shocking to see activist investors getting involved. Manitowoc has been operating its food service and crane divisions for over 70 years each. The last few years Manitowoc crane division has been underperforming an dragging down the company has a whole.

    Manitowoc history


  • Carl Icahn Buys Stake in Manitowoc Inc., Pushes for Breakup

    Carl Icahn (Trades, Portfolio) spent the weeks before Christmas revving up for his latest activist play, buying millions of shares and call options for Manitowoc Co. Inc. (NYSE:MTW). The investor, who tells his Twitter followers he makes money “studying natural stupidity,” acquired 10,532,660 shares in aggregate, or 7.77% of the company, according to GuruFocus Real Time Picks.

    Icahn believed the shares were undervalued, he said in the SEC filing reporting the event. His price paid per share ranged from $16.83 to $19.30. The company’s shares surged 8.94%, or $1.87 per share, on Monday as news of Icahn’s stake surfaced. They closed at $22.79 each on Monday.


  • Donald Trump Sold all his Stock...Should We?

    When David Rubenstein, Philanthropist Co-Founder and Co-CEO of the The Carlyle Group, one of the most successful private equity firms in the world interviews Donald Trump, the most successful celebrity real estate developer, entrepreneur, and golf promoter, we should pay attention.

    Hosted at the Economic Club of Washington D.C. December 15, 2014, Trump spoke about running for president, utilizing bankruptcy as a business tool, and the economy. He provided candid advice on business including comments on selling his entire stock holdings. Based on GuruFocus'sStock Market "Significantly Overvalued" calculation, Trump's selling might be appropriate.


  • Carl Icahn Sees Opportunities in the Oil Sector

    Being stubborn turned Carl Icahn (Trades, Portfolio) into a man worth $23 billion.

    First, he finds something he’s certain of. Right now, he says that’s the near-doubling of Apple Inc.’s (AAPL) stock price.


  • 2013’s Guru of the Year – Carl Icahn’s Top 5 Stocks

    GuruFocus’ Guru of the Year for 2013 reported his first quarter portfolio holdings this week which highlighted 21 stocks valued at over $33.634 billion. This is quite a bit lower from the company’s second quarter stocks which were valued at $38.53 billion. Over the past quarter the guru bought into one new company, Hertz Global Holding (HTZ) and reduced his holdings in only one – Netflix (NFLX).

    The following five companies are Icahn’s top portfolio holdings as of the close of the third quarter.


  • Carl Icahn Calls for Correction; On High Yield bond, Apple (AAPL) buy backs.

    Carl Icahn (Trades, Portfolio) on High Yield bond, Apple (NASDAQ:AAPL) buy backs.  

  • Not all MLPs beholden to oil prices

    Behind the Numbers–one of my favorite research services–had some interesting comments on the MLP sector in today’s Thursday Thoughts.


  • The Broken-Leg Problem: Q&A with Abnormal Returns’ Tadas Viskanta about Deep Value

    Earlier this week I did a Q&A withAbnormal Returns’ Tadas Viskanta about Deep Value. Tadas sees more finance and investing content than anyone else, so it’s always interesting to see what he takes away from a topic:


  • Outspoken Guru Carl Icahn Is 'Driven to Excel'

    “I have to look out for the shareholder’s interests, and I’m the largest shareholder.” – Carl Icahn (Trades, Portfolio)


  • Carl Icahn Is Quite "Concerned" That Something Is Going To Happen To The Stock Market

    Icahn was busy yesterday also sitting down with CNBC. Some of his observations include:

    - Apple is a no-brainer at current prices


  • 36 Minutes With Activist Investing Legend Carl Icahn

    Icahn is long the stock market but is concerned that it is the environment being created by the Fed is the only thing holding prices up. Therefore he also has a big hedge on.

    Where he unquestionably thinks there is a bubble is in high yield.


  • Buybacks: The Rationale and the Evidence

    This behavior turns the stomachs of value investors, but it’s par for the course for most managers. The Henry Singletons are few and far between. No manager focused on intrinsic value could behave this way.

    These are sins of commission. Less visible, but equally impoverishing, are sins of omission: When undervalued, overcapitalized companies fail to grab a rare opportunity to buy back stock at a wide discount from intrinsic value. Where such unexploited opportunities exist, activists are incentivised to establish a position in the company and agitate to have management undertake a buyback. In Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations (Wiley Finance, 2014), I examined one such example of an undervalued, overcapitalized company that failed to take its opportunity until two activists stepped up the pressure, and the outstanding returns that followed.


  • Derek Jeter Retires This Week, But These Five Investing Legends Are Going Strong

    On Thursday, September 25, Derek Jeter will take the field at Yankee Stadium for the last time. A winner of five World Series and selected to the All-Star team fourteen times, he will be remembered as one of the greatest players of his generation and an all-around class act.

    Yankees fans are queuing up to say their goodbyes to the Captain, and there is a mini-bubble forming in ticket prices for the game. As of Tuesday, the average price of a ticket for the game had risen 30% over the preceding week to $845.41.


  • The Bottom Line by Carl Icahn

    The Bottom Line

    August 22, 2014

  • Book Review: Deep Value

    I really enjoyed Toby Carlisle's latest, Deep Value. There are a lot of books that offer compelling stories, but to my mind the plural of anecdote is not statistic. On the other hand, books heavy on the stats tend to bore their readers to sleep. For me, Deep Value was the perfect blend of real-life investing stories combined with the stats necessary to make for a convincing argument.

    Most chapters focus on a protagonist who is on a quest for better returns. You may recognize some of them, including Carl Icahn (Trades, Portfolio) and Warren Buffett (Trades, Portfolio), but you may not others (or at least I didn't), including Ron Brierley. In this way, the book reminded me a lot of (the heavily-recommended by Bill Gates (Trades, Portfolio) and Warren Buffett (Trades, Portfolio)) Business Adventures, but with a focus on investor activism rather than general business.

    But unlike a lot of books I have read, the story-telling does not complete the tale. Carlisle examines the factors that lead to success in activism, thus giving passive investors the opportunity to predict (statistically) which stocks are most likely to attract an activist. At this point, the book reminded me of Carlisle's previous book,Quantitative Value, which I also highly recommend.


  • At 78 Years Old, Carl Icahn Shows No Sign Of Slowing Down

    Carl Icahn (Trades, Portfolio) Chairman of Icahn Enterprices (NASDAQ:IEP) has bee on a roll as of late when it comes to his activist campaigns. He coming off his recent successful campaign to get Family Dollar (FDO) management to put the company up for sale.He recently sold his stake for a $200 million profit. Now he has set his sights onto Hertz (NYSE:HTZ) and Gannett Co. Inc (NYSE:GCI) where he quickly got involved with Hertz and still hasn't said what he wants or why he has taken a stake in Gannett. It is clear that, at 78, Carl Icahn (Trades, Portfolio) isn't slowing down his campaign against bad corporate governance or his public relations campaign for reforms in corporate governance.

    Gannett Co. Inc. (NYSE:GCI)


  • Guru Held Stocks Near 52-Week Lows

    As the market reaches new highs, I searched for stocks that have yet to participate in this year’s gains. Below are some of the most widely held stocks by the investing gurus that are trading near their 52-week lows.

    CA Inc (CA) closed at $28.65 on 9/2/2014, near its 52-week low of $27.84. The stock is down 20.89 percent from its 52-week high of $36.22 on 1/22/2014. CA is one of the world’s largest providers of information technology (IT) management software and solutions. The majority of the Global Fortune 500 relies on CA to help manage their IT environments. The company’s earnings were flat in fiscal year 2014 but are expected to increase by 19.3 percent in 2015. The dividend yield is a high 3.50 percent and should help provide some support for the price. The stock is held by 18 gurus we follow with James Barrow of Barrow, Hanley, Mewhinney & Strauss holding the largest position of 11.5 million shares, representing 2.59 percent of the shares outstanding.


  • TPCA: Assets for 35 Cents on the Dollar

    "Value investing is at its core the marriage of a contrarian streak and a calculator."~ Seth Klarman (Trades, Portfolio)

    Atlantic City is set to close another three casinos in a matter of days and the gaming business in the city is steadily dwindling. Raise your hand if you want to purchase a company whose largest property resides along “The Boardwalk.” My hand is not only up, it is vigorously waving because Tropicana Entertainment (TPCA) is currently selling at a large discount to its intrinsic value. Furthermore, its published book value is dramatically understanded--more on that later.


  • Carl Icahn Latest Pick

    In this article let's take a look at Carl Icahn (Trades, Portfolio), the well-recognized billionaire, who yesterday disclosed in a regulatory filing that he had accumulated a 8.48% stake in Hertz Global Holdings (NYSE:HTZ), a $13.56 billion market cap, which engages in both car and equipment rental businesses primarily in the U.S. and internationally.

    The filing


  • Carl Icahn Takes Stake in Hertz Calling Stock 'Undervalued'

    Carl Icahn (Trades, Portfolio) purchased 38.8 million shares, representing an 8.48% stake, of Hertz Global Holdings Inc. (NYSE:HTZ) throughout June, July and August, according to GuruFocus Real Time Picks.  

  • The Fact that Icahn is Long on Nuance Makes Me Feel Bullish

    In this article, let's take a look at Nuance Communications, Inc. (NASDAQ:NUAN), a $5.48 billion market cap company, which provides speech, imaging and keypad solutions for businesses, organizations and consumers worldwide.

    Acquisition strategy


  • Carl Icahn Bets on Hologic; Should You?

    In this article, let's take a look at Hologic Inc. (NASDAQ:HOLX), a $7.06 billion market cap company, which is a company that develops, manufactures and markets x-ray systems. It operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health.

    Two differences


  • Carl Icahn's Statement Concerning Dollar General’s Bid for Family Dollar

    August 18, 2014

    Rick Dreiling, CEO of Dollar General, made the following statement today during a conference call following his proposal to acquire Family Dollar.


  • Billionaire Carl Icahn Acquired 6.6 Percent of Gannett’s Shares

    According to Guru Focus Real Time Picks, on Aug. 4, activist investor Carl Icahn (Trades, Portfolio) bought shares of Gannett Co., Inc. (NYSE:GCI) at an average price of $34.32 and holds 14,967,373 shares, worth more than $500 million. The investor Icahn acquired about 6.6 percent of Gannett’s shares and options during the second quarter.

    So in this article, let's take a look at Gannett, a $7.8 billion market cap company, which is the largest newspaper publisher in the U.S. and operates as a media and marketing solutions company in the United States and internationally.


  • Guru of the Year – Carl Icahn’s Top Five Holdings

    GuruFocus’ Guru of the Year for 2013 reported his first quarter portfolio holdings this week which highlighted 19 stocks valued at over $38.53 billion. This is a notable jump up from the company’s first quarter stocks which were valued at $32.3 billion. Over the past quarter the guru bought into one new company, Gannett Co (NYSE:GCI) and sold out of Forest Laboratories (FRX).

    The following five companies are Icahn’s top portfolio holdings as of the close of the second quarter.

    Icahn Enterprises (IEP)

    Icahn’s largest position is in Icahn Enterprises where he holds a massive 105,842,442 shares of the stock. His position takes up 27.4% of his total portfolio and 89.33% of the company’s shares outstanding.


  • Carl Icahn Buys Gannett Co, eBay, Sells Forest Laboratories, Netflix, Family Dollar, Holds Herbalife

    Carl Icahn (Trades, Portfolio) Buys Gannett Co, eBay, Sells Forest Laboratories, Netflix, Family Dollar

    Legendary activist investor Carl Icahn (Trades, Portfolio) reported his latest portfolio. He buys Gannett Co Inc, Icahn Enterprises LP, eBay Inc, sells Forest Laboratories Inc, Netflix Inc, Family Dollar Stores Inc, Family Dollar Stores Inc, CVR Refining LP during the 3-months ended 08/04/2014, according to the most recent filings of his investment company, Icahn Capital Management LP.  

  • Carl Icahn's Recipe For Activist Investing Success - IEP Presentation

  • Herbalife Insiders Buy $1.7 Million In Company Stock

    On Thursday, July 31, the CFO, COO, and President of Herbalife bought a total of $1.7 million worth of their company’s stock to affirm their confidence in its business model. The purchases were detected on the Insiders page of GuruFocus.


  • Carl Icahn and Nelson Peltz Became More Millionaires

    In this article let's take a look at the much anticipated merger between Family Dollar (FDO) and Dollar Tree (NASDAQ:DLTR) that was announced yesterdar morning.

    The Deal


  • Carl Icahn Reduces Stake in CVR Refining He Increased in June

    Carl Icahn (Trades, Portfolio) sold 975,000 shares of CVR Refining LP (NYSE:CVRR) on July 24, according to Real Time Picks. He had just increased the position by 1,638% to 104,290,764 shares on June 30.  

  • Giant Hedge Fund Managers: Bill Ackman Against Carl Icahn

    Giant Hedge Fund Managers: Bill Ackman (Trades, Portfolio) Against Carl Icahn (Trades, Portfolio)

    In this article, let´s see the battle between two of the world’s major hedge fund managers Bill Ackman (Trades, Portfolio) and Carl Icahn (Trades, Portfolio).


  • Guru Held Stocks Trading At Deep Discounts To Cash Flows

    Using the GuruFocus All-In-One Screener, I scanned for stocks that are trading for less than 80 percent of their discounted fee cash flow value (FCF). For confirmation, I selected the stocks that were held by at least five of the investing gurus we follow. While further refining the list, I rejected the stocks that had decreasing cash flow figures for the last quarter. I used the GuruFocus DCF Calculator to determine the rate at which FCF would have to grow in order to justify the current prices of the stocks. The calculator uses a default discount rate of 12 percent to determine the value.


  • Seventy Seven Energy's High Debt Load Makes It An "Avoid"

    Seventy Seven Energy was up yesterday in a down market with the news that Carl Icahn (Trades, Portfolio) has a 9.97 percent stake in the company. He merely received the shares as a spin-off and did not actively purchase the shares. Many spin-offs have had great performances over the years, so I wanted to see if Seventy Seven’s stock fit the characteristics of a successful spinoff.


  • Investing Gurus To Follow For The Next 30 Years

    At GuruFocus we follow many of the top investment managers around the globe. I like to follow the investing gurus that are in control of a publicly traded company that I can buy. The gurus I follow include Warren Buffett (Berkshire Hathaway, BRK.A), Carl Icahn (Icahn Enterprises, IEP) and Prem Watsa (Fairfax Financial, TSX:FFH, FRFHF). All of their stocks have performed well over the years. We can still make money with these gurus, but for how long? Warren Buffett (Trades, Portfolio) is 83 years old and Carl Icahn (Trades, Portfolio) is 78. Prem Watsa (Trades, Portfolio) is the youngest of the three mentioned at 64. There are some great investment gurus in their early 50’s such as Daniel Loeb (Third Point Re, TPRE) and Tom Gayner (Markel, MKL) that we can follow for years, but I wanted to see if I could find gurus that are at even earlier stages in their careers.

    Three gurus under the age of 50 that we can potentially follow for decades to come are David Einhorn (Greenlight Capital Re, GLRE), Warren Lichtenstein (Steel Partners Holdings, SPLP), and Sardar Biglari (Biglari Holdings, BH). Each one is the chairman of their publicly traded company and makes investments that have direct effects on the performance of those companies. Another person to keep an eye on is Steven Toy, the chairman of the investment committee at Wilbur Ross’ Company, WL Ross & Company.


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