He certainly had given up going into the downcycle and for good measure as the losses in big holdings would have been incredible if he did not end of 2014. That said you "but when everyone else is selling" and the bottom may not be confirmed in oil but downstream is hot but I believe he will show strong moves in other issuers soon. Another interesting reference is Icahns big moves into $LNG and $FCX.
News 
Market Data 
Discover 
