On CNBC this afternoon I mentioned that I hope Apple tells Carl Icahn to stuff it. This startled some folks, so I figured I would explain this thinking in more detail. First, the back-story... Billionaire activist investor Carl Icahn has found a new target: Apple.
Working with family is hard, especially when you're controlling billions of dollars. So we really can't be judgmental about Bloomberg's report that Carl Icahn and his son Brett are having a disagreement over the sale of half of Icahn Enterprise's sale of its Netflix stake.
This is how you play perfectly nice with Carl Icahn. The world's largest off-shore drilling company, Transocean, has just agreed to a deal with the activist investor that pays shareholders and gives The Icahn Group more power on Transocean's board. In short, these are the days that Carl Icahn gets out of bed for.
Yesterday, after billionaire activist investor Carl Icahn appeared on CNBC for almost an hour to discuss his proposal that Apple CEO Tim Cook should initiate a $150 billion share buyback, Miller Tabak chief economic strategist Andrew Wilkinson pointed out in his "chart of the day" that Icahn is not even a top-2o shareholder of Apple. In today's chart, Wilkinson points out that Icahn's tweets aren't moving the market like they used to.
Carl Icahn was on CNBC's Halftime Report with Scott Wapner going over his recent dinner with Apple CEO Tim Cook. Wapner, as usual, got right down to business and asked Icahn how it went. "We had dinner at my apartment with a bunch of CEOs." said Icahn. "We had a commonality, we know the technology world.. but the conversation revolved around the buy back, we pushed quite hard for it."
By Insider Monkey: Icahn Capital LP is the investment arm of the Icahn Enterprises established by the famous business guru Carl Icahn. Icahn began his career in 1961 as a registered representative at Dreyfus & Company where he learned about options and convertible assets. In 1968, he started his own brokerage firm Icahn & Co. Inc. Icahn is the chairman of Icahn Enterprises, which has various businesses under its wings including investment management, real estate, consumer goods and metals.
I'm an Apple shareholder, so from a personal finance point of view, I don't hate the idea that famous activist investor Carl Icahn has taken a small stake in the company and started making demands. As a market observer and fan of Apple's products, however, I'm annoyed that Apple CEO Tim Cook is wasting his time talking to Icahn.
It's all out being put out there now. The feud between hedge fund managers Bill Ackman and Carl Icahn reached a fevered pitch yesterday, when Carl Icahn told Bloomberg TV's Trish Regan that Ackman was "disingenuous" in his short against multi-level marketing firm, Herbalife.
By Insider Monkey: Carl Icahn began his career in 1961 as a Registered Representative at Dreyfus & Company where he learned about options and convertible assets. In 1968, he started his own brokerage firm Icahn & Co. Inc. Icahn is the Chairman of Icahn Enterprises which has various businesses under its wings including investment management, real estate, consumer goods, and metals. Legendary corporate raider Carl Icahn is one of the most active and successful hedge fund managers in 2011.