Bill Ackman And Carl Icahn Hug It Out At A Huge Hedge Fund Conference

Hedge fund manager Bill Ackman, who runs Pershing Square, was the surprise “mystery guest” at CNBC’s Delivering Alpha Conference.

He walked out on stage at the end of Carl Icahn’s panel.

The two long-time rivals hugged it out. CNBC even made t-shirts to commemorate the occasion.

It’s been over a year since the two fund managers/long-time rivals were involved in a nasty public fight live on CNBC.

In January 2013, while Ackman was was responding to Icahn’s criticism of his Herbalife investment, Icahn called into the “Half Time Report” and the insults were flying.

“I’m telling you he’s like a crybaby in the schoolyard. I went to a tough school in Queens you know and they used to beat up the little Jewish boys. He was like one of the little Jewish boys crying that the world is taking advantage of him…” Icahn said at the time.

It looks like they have made up since then. They have both said that they “respect” each other.

“I respect what he says and thinks,” Ackman said of Icahn. Here’s the GIF:

The conversation focused on activist investing.

Also, Ackman is still short Herbalife and Icahn hasn’t sold a share of his massive long position.

CNBC anchor Scott Wapner asked the pair who is going to win that bet.

“Probably me,” Ackman quipped. “I’d like Carl to get out of the stock,” he added, noting Icahn could make a very nice profit.

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