Carl Icahn had a bad day Monday, losing an estimated $420 million according to a report in Forbes. The loss stems from a 4% drop in the stock of Icahn Enterprises LP (NASDAQ:IEP) that was based on revelations in the Wall Street Journal on Friday that Carl Icahn may be at the center of an insider trader case involving golfer Phil Mickelson and infamous professional gambler Billy Walters. Golfer approached by FBI after round at Memorial golf tournament The Journal reported that Thursday Mickelson, fresh of finishing a round of golf in a PGA tour event in Columbus, Ohio, was…
Carl Icahn Loses $420 Million In One Day
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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