Monday, March 10, 2008

The Icahn Lift

If you have money in the stock market, chances are Carl Icahn has helped improve your bottom line through what's called the "Icahn lift." That's the upward bounce that typically happens when he starts buying up a stock. He is such a surefire moneymaker that investment managers, like the ones who run your mutual fund or 401k, often follow his lead.

But these are dark times for investors. The Dow Jones has slid over 1,000 points since the first of the year. Icahn has said, "The market is falling off a precipice…the free ride is over, the punch bowl is dry!"

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