icahnenterprises
ValueWalk
Given that Carl Icahn has styled himself as a 50+ year warrior for corporate transparency, we expected he would provide clarity on the issues we highlighted. Yesterday, Icahn Enterprises released its quarterly results, presentation and its response to our report. In its response, Icahn Enterprises failed to address every key issue we raised. Instead, it rehashed its prior opaque and inadequate disclosures. Perhaps most importantly, the company failed to disclose basic details of Carl Icahn’s margin loans, which we strongly suspect represent a near-term critical threat to IEP unitholders. Perha...
ValueWalk
Icahn Enterprises (NASDAQ:IEP) is an ~$18 billion market cap holding company run by corporate raider and activist investor Carl Icahn, who, along with his son Brett, own approximately 85% of the company.Our research has found that IEP units are inflated by 75%+ due to 3 key reasons: (1) IEP trades at a 218% premium to its last reported net asset value (NAV), vastly higher than all comparables (2) we’ve uncovered clear evidence of inflated valuation marks for IEP’s less liquid and private assets (3) the company has suffered additional performance losses year to date following its last disclosur...
ValueWalk
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Einhorn‘s Greenlight Capital Re (NASDAQ:GLRE) and Icahn’s Icahn Enterprises LP (NASDAQ:IEP). Here’s an excerpt from the episode:Q3 2020 hedge fund letters, conferences and moreEinhorn's Greenlight Capital Re And Icahn's Icahn EnterprisesTobias: Einhorn genius for a decade. The GOAT for a decade, a GOAT for the last decade. I think it could be back to the GOAT stage, possibly for the coming decade if value gets a little run-on again. I’ve been hunting through some of the small-cap value names...
ValueWalk
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