No Limit Icahn Poker: FTC Greenlights More Yahoo Investment 05-30-2008
At this week’s D6 trade conference a question was asked of Rupert Murdoch about Carl Icahn’s grab at Yahoo. Mr. Murdoch, often frank and to the point, replied “that’s not serious. He just wants to make a few hundred million bucks.”
Accurate or off base, one mogul’s insight on another is always fascinating. Here, I’d suspect the conclusion is true as well. Icahn is a special kind of value investor – he looks for corporate weakness and tries to turn it into short term investment opportunity. He’s an opportunist imbued with the mentality of a trader, together mixed in with the instinct of a predator and the guile of a poker player. He’s honed his game over years of practice. The playbook is in memory; tried and true. Yahoo, as a target, was looking weak. The opportunity was there.

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