Icahn't hedge now
Billionaire Carl returns $1.8B to hedge-fund clients
Carl Icahn, who once earned a reputation as a ruthless corporate raider, appears to have lost his nerve.
The 75-year-old shareholder agitator announced yesterday he was shutting off outside investors from his hedge funds and returning all of their money, claiming he can't stomach the idea of clients suffering more losses after a brutal 2008.
"While it may sound corny to some, the losses that were incurred by investors in our funds in 2008 bothered me a great deal more, in many respects, than my own losses," Icahn wrote in a letter to investors. [...]
New York Post, 8.3.2011