Carl Icahn: Better Investor Than Buffett?

Carl Icahn doesn’t get enough respect, which may explain why shares of his company are such a bargain.

It was May 2011, and Carl Icahn was speaking at an investment conference in Manhattan. He seemed an odd presence, well dressed but still somehow rumpled, his native Queens, N.Y., accent making him sound more like a garment-industry executive than a Princeton-educated mogul worth billions of dollars.

Icahn, well known in the world of finance as an "activist" investor but relatively unfamiliar to individuals, began by assailing corporate boards. Then it was on to his stock pick. "My favorite stock earned $2.68 a share in the first quarter and sells for $40," he said. "In 2007 it sold for $130. It has great management." He paused. "The management is me, and the stock is Icahn Enterprises."

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Andrew Feinberg
Contributing Columnist, Kiplinger's Personal Finance
Feinberg manages a New York City-based hedge fund called CJA Partners.