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Best. CNBC. Clip. Ever.

scott
edited January 2013 in Fund Discussions
Carl Icahn tearing apart Bill Ackman, then getting absolutely furious at CNBC reporter Scott Wapner and then insulting Ackman some more. Icahn eventually curses and gets bleeped more than once. If Icahn was in studio with Ackman, chairs might have been thrown.

Ackman comes back at Icahn, but Wapner's being caught in the middle of the anger is tremendously hilarious TV. It's about thirty minutes, and it's greatness allllllll the way through.












Comments

  • kevindowkevindow
    I watched the interview earlier and it was simply awesome ! So much drama and hatred. IMO, Icahn came across as the talking-over, foul-mouthed bully. Oh, and Icahn was rightfully depicted as a hypocrite, as he had publicly bashed a stock he was shorting in 2002. I wouldn't be surprised if Icahn is somehow arranging with some of his hedge fund allies, not friends, to put a short squeeze on Ackman.

    Kevin
  • InvestorInvestor
    edited January 2013
    Reply to @kevindow: I watched the clip and I agree Icahn came up as a bully and he was rather unfair towards the host. They are supposed to discuss Herbalife and the clip was anything but that.
  • InvestorInvestor
    edited January 2013
    By the way, while we sometimes tear CNBC, I tried to watch Fox Business Network (FBN) and while there is a ticker at the bottom of TV, they are hardly any market, business discussion but simply more toxic venting of the sort found on regular Fox.
  • MaxBialystockMaxBialystock
    edited January 2013
    Herbalife. I confess to knowing next to nothing about it, but I did catch a Stephanie Rhule (Bloomberg) interview with their high mucky-muck. "Distributors," he explains, are not really distributors. Don't we all run into such shennanigans all the time and doesn't it make us suspicious? I mean, c'mon. The answers he gave to Rhule that day hardly inspire confidence in Herbalife's long-term prospects, and its existence as a "legitimate" business. I would not be surprised to learn over the course of time that the company is in fact a pyramid-scheme. It smells bad to me when he I hear such dodgy answers to simple questions. Rhule was smart enough to say at one point: "Well, maybe I don't have the proper in-house jargon so very well understood for myself, but the point is-------" And the Herbalife guy smiled and delivered slick, canned responses to each question, OOZING assurance and confidence. As for me, when confronted with that kinda stuff, I recall the old Monty Python reaction to the Killer Bunny Rabbit: "Run Away!"
  • scott
    edited February 2013
    Icahn just announced he owns 12.98% of the company/14M shares.
    5:24p
    BREAKING
    Carl Icahn bought 14 mln Herbalife shares: filing
    5:22p
    BREAKING
    Herbalife filing: Icahn holds 12.98% of company
    5:18p
    BREAKING
    Herbalife shares jump 15% in trading after hours (edited to add: now +20, 22.5%)

    Also:
    http://seekingalpha.com/currents/all
    5:58 PM Carl Icahn looks to be out for blood, disclosing late today that he's bought 14M shares, representing a 13% stake in battered Herbalife (HLF). According to the SEC filing, Icahn claims to "have conducted significant analysis," and "concluded that the company has a legitimate business model, with favorable long-term opportunities for growth." The disclosure further adds that he intends to have discussions with management regarding the business and strategic alternatives to enhance shareholder value, such as a recapitalization or going-private. Shares +20% AH.

    Still find the classification of a "multi-level marketing" company bizarre and nothing I'd ever invest in, but that's just me.

    After Icahn's announcement, there's certainly a lot on the line for Ackman.
  • CharlesCharles
    edited February 2013
    Extraordinary. I watched it during day climb 5%, but this...

    image

    Wow. Better than the movies!

    Suspect it will go higher during the squeeze=).
  • scott
    edited February 2013
    Those who want to invest with Icahn can through Icahn Enterprises (IEP), which is an MLP. That's a collection of various companies he owns, as well as a position in his hedge funds. It tanked in 2008, did nothing for the last few years and then has skyrocketed this year. The only problem with it is that it's unbelievably illiquid (which likely aided the rise this year) and very volatile. I believe Icahn owns something like 93% of it, funds hold quite a bit and then what's left is what's available to trade.
  • CharlesCharles
    edited February 2013
    Cool. I had no idea.

    Not having a good day today though...off 12%.

    Here's lifetime comparison with SP500:

    image
  • scott
    edited February 2013
    Perhaps proof that what Icahn did was almost entirely out of anger towards Ackman - the majority of the stake by Icahn in HLF came directly after the CNBC appearance with the two above.

    http://www.zerohedge.com/news/2013-02-15/meet-icahnator-what-happens-when-you-piss-billionaire-prime-time-tv
  • Old_JoeOld_Joe
    edited February 2013
    Reply to @scott: I started to listen to the clip but after a minute or two of Icahn I canceled. What utter crap.... He sits there whining and complaining that the first time he saw Ackman, he was sitting in Icahn's office whining and complaining...
  • slick
    This is beginning to sound a little like the movie "Wall Street" , its like two bullies in a school yard wanting to see the other get his butt kicked.
  • scott
    edited February 2013
    Reply to @slick: Icahn was apparently one of the inspirations behind Gordon Gekko.

    Also from Icahn regarding Ackman: "--Icahn insists pair's personal differences just 'strawberry on top of ice cream' "
  • scott
    edited February 2013
    Thursday, February 28, 2:46 PM ET
    "Ackman has given us the opportunity to buy a company at a discount ... and for that, I thank him," Carl Icahn tells Bloomberg following news of him gaining two board slots at Herbalife (HLF +6.3%). Asked if he would add another 10% of the company to his near 14% stake, he says he's not sure.

    2:37 PM Herbalife (HLF +6.4%) resumes trading with shares nearly doubling their pre-announcement gains. Icahn (and related entities) currently own 13.6% of the company and the board expansion agreement allows Icahn to increase the size of his stake to up to 25%. (PR) Comment! [On the Move, Healthcare, Breaking News]

    2:30 PM Herbalife (HLF +3.7%) is halted on news it's expanded its board with two Icahn reps nominated to fill the slots. (PR) 2 Comments [Healthcare, On the Move]

    Darth Icahn goes after Luke Ackman once again, one day after Ackman's JCP tanks.

    http://seekingalpha.com/currents/all

  • CharlesCharles
    Reply to @scott: Better than a movie!

    image
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