In what would have to qualify as pretty big news, Carl Icahn has announced that he will be returning all the money he manages for outside investors.
Why ? He does not want to suffer the stress he felt during the 2008 and 2009 downturn over the paper losses his investors faced.
Icahn while not forecasting another market dislocation suggested that with the rapid run up over the last 2 years and the tensions in the Middle East such a happening could not be ruled out.
Here is an article discussing the move by Icahn:
http://www.ft.com/cms/s/0/028a3b94-49b4-11e0-acf0-00144feab49a.html#axzz1G2egL1IA
And here is the original Icahn letter:
http://media.ft.com/cms/7be06f94-49ba-11e0-acf0-00144feab49a.pdf
