After a recent guest lecture by Carl Icahn, a Yale student asked the billionaire financier a question. Twice.
The student first asks, “After the 1962 debacle where you say you, “blew up” and lost all your money, Mr. Icahn, how did you regain your confidence, and more importantly, how did you regain the confidence of your investors?”
As first seen on Academic Earth, Icahn answered, “I don’t think I ever lost confidence in my ability to understand what’s going on,” and then he then went on to answer the second part of the student’s question.
Icahn says that, to regain the confidence of investors after he was wiped out in the 1962 downturn, he came up with an offer letter and convinced wealthy people to sell their options with him.
By getting his clients the right price, he says, they would stay on as customers for years and years and “we built it up.”
In other words, he worked hard and did a good job, and slowly more and more people began to trust him.
Then Icahn, who is 73, asks the Yale student, “what was the second part of your question? I forgot.”
To which the student replies by asking Icahn, “how did you regain the confidence of your investors?”
Well, Icahn had already answered that question.
“Well, no I told you that I had that letter and that we were able to… I don’t know if you heard me, because I was already telling you…”
Watch the moment at 23:15 to see how nicely Icahn humbles the young Yalie, who needless to say, said a quick “Thank you,” and passed the mic.
Watch it on Academic Earth
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