Carl Icahn Comes Under Fire!

Legendary corporate raider and activist Carl Icahn found himself on the wrong side of a familiar battle this week when the short selling investment firm Hindenburg Research took aim at Icahn’s publicly traded holding company, alleging in a new report that Icahn Enterprises L.P. (IEP) is overstating the value of its private asset portfolio, and that its publicly traded stock units–85% of which Icahn owns–are “significantly overvalued.”

Icahn’s fortune fell over 35%, from $18.3 billion on Monday afternoon to $12 billion as of Tuesday’s market close. Icahn Enterprises units tumbled 20% on Tuesday, shaving $3 billion in market value off Icahn’s fortune. Forbes then trimmed Icahn’s estimated net worth by another $3.6 billion, after it was revealed that Icahn had pledged over half of his IEP shares as collateral against unknown personal debts.

Hindenburg is a short selling activist hedge fund run by Nate Anderson who is most famous for having released a video of Nikola’s electric truck prototype being towed up a hill in order to be pushed down to make a promotional video showing that the technology was fully operational. He claims that Icahn Enterprises has a Ponzi-like economic structure.

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[IllIl]

Finally! Some good old fashioned, non-crypto pyramid schemes. It's so refreshing!

[Brogenitor]

"What is it, a Blackstone real estate fund?" Absolutely savage. I love it.

[gregaroivanalininovich]

So you're telling me that the guy who was one of the inspirations for Gordon Gekko is NOT a paragon of virtue and ethics? I AM SHOCKED, SHOCKED!!!

[Hellz]

"He was accused of being a asset strpper (the worst kind of stripper) in his dealings" funny af 🤣

[jakelamotta]

Ackman and Carl had probably the most awkward hug in stock market history. I don’t know if they were afraid they were going to steal from each other pockets

[milamarshall]

Makes sense why he defended herbalife so aggressively

[chrisb.]

It still amazes me how much these videos fill me with knowledge and make me laugh at the same time.

[booya]

Patrick masters the art or serious humor and information. Never disappoints. Well done as always

[jimjackson]

The fact that the dividend was 15% before the price drop suggests that some people had a hint that things were wrong all along.

[deanbolton]

I'm in the mood for some dry sarcasm

[scott_hunts]

“First check if Kathy Wood is invested”

10/10

[zk]

This is what we call 419 here in abuja Nigeria. We are accused as being fantastically corrupt country but some of these dark arts of capitalist is way beyound our 419 scheme. I salute you

[billionairebears]

you had me at worst kind of stripper🙆‍♂🙅‍♂🕺🤣🤣🤣

[TKDFree]

“Where is Credit Suisse when you need them” — almost did a spit take.

[cyrilio]

I'd love to see a tier list of top shady bankers. Please Patrick, make it happen.

[donnyhollywood]

HAHAHH! "If you want to see if a stock is overvalued first see if Cathie Wood has a large position or if Jim Cramer has recommended it as a buy". ROFL!! LMFAO! You got jokes, Patrick! Im dying.

[lvhdmya]

The humour keeps getting better and better. Brilliant video and thank you.

[himoffthequakeroatbox]

4:43 If I handed in a graph like that it would have come back with "LABELS! UNITS?" scrawled over it.
When I was 12.

[baoboumusic]

2:17 HAHAHA Rasputin as Jack Dorsey, that's amazing 😂

[mylosovich]

Calling out Kathy and Jim like a boss.. I love your vids Patrick... had trouble typing this through spastic laughter