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Carl Icahn Comments about Leaving $345 Million on the Table by Selling Lionsgate
Posted by: CanadianValue (IP Logged)
Date: March 27, 2012 05:31PM
Corporate raider Icahn had the following comments:
- Sold Lionsgate (LGF) and the stock doubled.
- The reason he sold was that he thought the company was going to struggle if it didn’t have a big hit, which it just did with Hunger Games.
- Despite that Icahn’s fund was up 35% in 2011.
- He has historically made his greatest returns by getting control of companies. He thinks in the long run CVR Energy (CVI) will do well which he is trying to get control of.
- Doesn’t know how the CVR Energy CEO can sell shares personally at $25 and then say that Icahn’s offer at $30 isn’t enough
- Icahn is a former customer of MF Global and is still owed money, but he thinks Corzine likely wasn’t doing the wrong things .
- He thinks the recent stock market rally is due to the fact that there is so much capital around because of money printing. He worries that this can’t go on indefinitely.
Guru Discussed: Carl Icahn: Current Portfolio, Stock Picks
Stocks Discussed: CVI, LGF,