Carl Icahn Ready To Check Out
Carl Icahn, who just turned 80, might be looking to step away from the game. The activist investor is grooming his son Brett Icahn to takeover. Brett and Icahn partner David Schechter run about $7 billion for Icahn. Icahn is trying to lock these guys up before he retires, as the two did contemplate starting their own fund in 2014.
What's interesting is that these two guys are outperforming Icahn himself. They invest on the passive side and they run about 20% of Icahn's assets. One of their best calls have been on Netflix, which brought in a cool $2 billion profit for Icahn. Brett and David also made money on Hain Celestial and Nuance bets. They don't collect a management fee for running the portfolio either.
Icahn was down 18% in 2015. Brett and David managed to generate a 37% annualized return since April 2015.
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