Carl Icahn’s hedge fund made $120 million shorting the S&P index last week, according to Bloomberg.Add that to the $415 million Icahn Capital made when its huge stake in Motorola got a boost from the announcement of its deal with Google and last week was hugely profitable for Icahn. He made at least $535 million.
And according to Bloomberg, he’s still short the S&P. Their sources say that Icahn became bearish last week and he’s sticking with a negative outlook.
Funnily enough, Icahn made about as much as (we think) John Paulson lost last week.