Hindenburg Research takes on Carl Icahn
An upstart activist investor challenges a veteran of the trade
BEFORE CARL ICAHN was an activist investor, he was an arbitrageur. Although it was swashbuckling corporate raids during the 1980s that made him infamous, some of Mr Icahn’s earliest campaigns involved investing in closed-end funds, a type of investment company which often trades at a discount to the value of its assets. Closing this gap, perhaps by agitating for the fund to liquidate its holdings, yields a profit.
This article appeared in the Business section of the print edition under the headline “Can I sink Icahn?”
Business May 6th 2023
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