DD Support Board and Research Team

[bar1080]

Yes, here Ackman goes for the jugular...

"The IEP premium has been sustained by a large dividend yield, which is not supported by operating cash flows. The yield is generated by returning capital to outside shareholders, which is in turn funded by the company selling stock to investors.

This system has worked for a considerable period of time, but it is highly dependent on the maintenance of the premium and the placidity of Icahn's margin lender(s). $IEP stock held by Icahn is not a liquid asset as it represents approximately 85%+ of $IEP shares outstanding. The shares also purportedly represent 85%+ of his net worth so he apparently does not have much outside resources to draw upon."

The above is from Bill Ackman
https://finance.yahoo.com/news/hedge-fund-billionaire-bill-ackman-132557971.html