Does he see a complete meltdown on the horizon? http://news.yahoo.com/s/ap/20110308/ap_on_bi_ge/us_icahn_investors#mwpphu-container
John Templeton sold out after a long successful career, not far from the top. Icahn is a pretty smart guy. I wouldn't bet against him.
why else have over $30 billion in hedge money run off into the sunset since September? Cause they know the jig is up.
SAC up 3%. GS underperforming. heat's on? Maybe. Maybe he sees, for the first time, jail time if he gets caught. What continues to amaze me is, Marcopolous flags Madoff for 8-10% as "unsustainable". Yet these hedgies pound out three and four times that, and no one blinks. Of course, I know why. However, it's been confirmed by insiders that it's all smoke and mirrors. So, what can be the only outcome? Problem is, we go down with them, and don't get the goodies.
I agree with this part of your reply as I was a bond holder of Marvel Entertainment when Icahn came charging in and his lawyers destroyed everything. I saw his maneuvering from an inside perspective. Before that I was in awe of Him, but afterward saw him only with disgust. Given what I know about him, and his tactics which were borderline legally I think he would not want government oversight looking into his hedge fund and more importantly him personally.
I think he is tired of the BS from the SEC. Too many new rules. Alot of these funds have the majority of their assets offshore. I read that 75% of Tudor's fund is overseas. I wonder at some point if these guys are going to move to an island and close up their US shops. I know if I was in that position I would.