Aug. 17 at 6:45 PM
$IEP
Q2 earning 8/5/26
@Carl_C_Icahn
said it all GAAP principle of conservatism undervalues true value extract 10Q per Mr Carl Icahn himself
“Throughout the history of
$IEP
,there have been periods when many of our controlled positions (where we have owned more than 50%) have been undervalued and I believe such a period exists today. Some examples of undervalued controlled positions ultimately becoming profitable for us due to our activism and patience as long-term holders include Pep Boys, the Nashville East Bank Scrapyard, PSC Metals, Ferrous Resources, American Railcar Industries, each of which was sold for a value in excess of the value at which they were carried on our books. A good current example of one of these is
$CVI
CVR Energy, of which we own 71%. I believe the current market environment is breeding extremely attractive opportunities for refineries such as CVR given the huge capital commitments and exceedingly long time necessary to build new refineries....
