Investors who fled Carl Icahn’s hedge funds after losing money with him in 2008 might want to sit down for this one.
In a year when the average hedge fund fell between 4 percent and 7 percent — with some prominent funds down in the deep double-digits — the Far Rockaway native returned 35 percent in trading profits last year.
“I didn’t think we’d do so great this year, but we did very well,” Icahn told The Post when asked about the returns. “I was pretty hedged this year too,” he said, referring to his protective moves against big losses.
David Einhorn's Greenlight Capital was down 0.1% for the first quarter, underperforming the S&P 500's 6.2% return. In their letter to investors, which was reviewed by ValueWalk, the Greenlight team said a lot happened during the first quarter even though they made just a handful of changes to the portfolio and essentially broke even. Q1 Read More
Like most financial pros, Icahn has been troubled by the recent financial turmoil, spurred by fears of another US recession and trouble out of Europe.
As a result, he took on a lot of protections against losses.
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