Shortly before Trump announced tariffs, former adviser Carl Icahn dumped millions in steel-related s

Discussion in 'Wall St. News' started by ajacobson, Mar 2, 2018.

  1. And apparently Trump did this on the relative spur of the moment giving no warning or consult with affected departments...
     
    Last edited: Mar 2, 2018
  2. southall

    southall

    So he saved about $6 million by selling a week ago.
    His net worth is 17 billion.
    6 million is like a rounding error, 0.0004 of his net worth.

    The equivalent would be someone with a networth of $17,000 owning 1 share of that stock and selling it a week ago to prevent $6 in losses.
     
    Last edited: Mar 3, 2018
  3. henry76

    henry76

    But he didn't know it would only be 6 million, you could ask why he bothered holding the position in the first place if it makes no difference to him , it must have made a difference to him because he did both hold the position and exited in a "timely" manner.
     
    Last edited: Mar 3, 2018
  4. DaveV

    DaveV

    Martha Stewart, who was worth more than one billion at the time, went to jail for an insider transaction that netted her only $227,000. When the rich are doing these kind of shady deals, I doubt that they think this is only 0.x% of my net worth.
     
  5. southall

    southall

    Martha was not a finance legend like Ichan. I really doubt Ichan would be as stupid as Martha to risk everything for a bit of pocket change. $6 billion maybe, but not $6 million.
     
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  7. carrer

    carrer

    Personally I think Trump would not risk himself by giving away insider information to Icahn, considering the fact that the deep-state, MSM, democrats and the left waiting for an opportunity to get rid of him.
     
  8. And much of his own party, his staff/wife, AG, FBI, his son-in-law will be out for revenge soon.. Ivanka will pretend McDonalds were out of ketchup. :)

    He would do this and every businessman around him would be quite blatantly greedy. They got to where they are by wanting and taking, it has always worked for them so natural selection rules say they won't stop the behavior.

    Though a coincidental stop loss could also make sense.
     
    #10     Mar 3, 2018
    Chubbly likes this.