I have done this site especially for Brett Icahn
in order to visit thishousewillexist.org
Sorry for my poor english translation.
Biography of Carl Icahn
Born in 1936, Carl Icahn is a billionaire businessman and U.S.. His fortune is estimated at about $ 8 billion.
Carl Icahn comes from a Jewish family in the neighborhood of Queens in New York. His mother was a schoolteacher and his father singing in synagogues. He studied at Princeton University and medicine at the University of New York that he left before graduating. Like many others in the 1980s, he built his fortune partly through the junk bond financier Michael Milken.
Carl Icahn is a director of Blockbuster and owner of American Real Estate Partners, XO Communications, American Railcar and owns shares in many other companies such as National Energy Group and Hollywood Entertainment.
In 2005, Icahn brought his stake in Time Warner to the tune of 3.3% and tried to lead a shareholder against the project's current CEO, Mr. Parsons. This failed and in 2006, Icahn now casts its sights on a tobacco company in South Korea by launching a takeover bid to $ 10 billion.
------------ Brett Icahn
Carl Icahn, the investor predator
"The effect Icahn". That Wall Street expression to describe the rapid improvement of a stock price that typically occurs when one learns that Carl Icahn bought shares in a company he considers poorly managed.
Since the mid-1980s, Icahn has led many great battles against U.S. companies, which often had the effect of generating large returns for their shareholders. This also allowed Icahn to become the 46th richest person in the world in 2008 according to Forbes magazine.
Icahn is now considered a ruthless shark, sometimes as a kind of vigilante seeking to correct abuses of corporate management is too greedy or incompetent.
Icahn grew up in a middle class family in the neighborhood of Far Rockaway, Queens in New York. Fellow, he studied at Princeton and graduated in philosophy in 1957.
Then he studied medicine at the University of New York, but stopped his studies before passing the diploma, supposedly because he disliked the corpses.
It began with a job broker's Award Dreyfus & Co. in New York in 1961. Seven years later, he bought a seat on the New York Stock Exchange (NYSE) and began his financial career, mostly by trading options. But Icahn did not take long as'imposer as an active investor and pugnacious. He began to take significant shareholdings in listed companies in order to cause prices to rise.
Icahn really begins its predatory activities in the late 1970s and into the big leagues during his hostile takeover of TWA in 1985. It is known to be a very tough negotiator and strategist, whose perseverance and personality often sow confusion among his interlocutors. Major companies have fallen prey to Icahn: Texaco, Western Union, Viacom, Revlon, Time Warner and Motorola.
At the head of an immense fortune, Carl Icahn is also a philanthropist, making many gifts to his old school Princeton. He has received numerous awards from New York City for his work and his contributions to public health, medical research and charities in the city.
It is still an active capital. Time Magazine interviewed Icahn on the occasion of his 71 years in February 2007. On the question of his retirement, he replied:
Several sources say that Icahn would have assembled a team of twenty partners to help find targets for its future raids. It is therefore likely to remain an active investor for quite some time ...
His investment style
The famous investor Wilbur Ross, a longtime friend and adversary regular Icahn, Icahn defines as "the person with the spirit of competition developed as I know. It is especially good at terrorizing people and breaking down their defenses. "For many entrepreneurs, this pretty much sums up the modus operandi of Carl Icahn and his investment style.
Icahn's strategy is to identify a company he considers misguided and whose share price is significantly undervalued. He excels in bear markets. When everyone sells, buys it, and it gradually built positions large enough to reach the seat of the board of directors.
Typically, his first request is to get rid of the CEO and to dismantle the company into parts for resale at retail. The Wall Street professionals say that most of the time, Icahn succeeds because it is intimidating and hard. He is considered a businessman so sharpened that investors buy shares of the company in which Icahn has set his sights.
Thus, qu'Icahn succeeds or not, it starts with large profits in pockets.
A perfect illustration of the method is when Icahn put pressure in 2006 to replace the CEO of Time Warner and dismantle the company. But all did not go as Icahn wanted.
When Time magazine asked him in February 2007 on his failed attempt, Icahn said:
"Dick Parsons agreed to do what we had most at heart to make $ 20 billion share buyback. He did what he promised and under appreciated by 30%. It helps the shareholders. Our hedge fund has pocketed $ 250 million. Pleasant enough as a way to lose. "
And what results have given the Icahn investment style? In 2007, Fortune magazine writes:
"Since its inception less than 3 years, the hedge fund, Icahn Partners has returned an annual average of 40%. Once fees paid, investors have received 28%. This performance beats clearly the 13% S & P 500 and the average performance of hedge funds by 12%. "
Selected pieces
"I earn money. Nothing wrong with that. That's what I want to do. That's why I'm here. That's what I love. "
"Managers are paid to do a mediocre job. If the system was not so poorly designed, guys like me would not get as much money. "
"When investors, including the pros, all agree, they usually wrong."
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Brett Icahn
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