Is Carl Icahn a better investor than Warren Buffett?
Is that even possible? If you’ve never heard of Icahn, you’re not alone. Well known in the world of finance but relatively unfamiliar to individuals, Icahn is arguably one of the great value investors of all time. And, lucky for the rest of us, investors can piggyback on his profitable investments by mimicking his moves, or simply by buying shares of Icahn Enterprises.
Giants…
To wannabe investors who think they can’t do it, just keep saying “Yes, Icahn.”
An interviewer on the comeback trail: Larry King, who left CNN’s regular stable a little over a year ago, is getting back in the game with the help of Carlos Slim, the Mexican multi-billionaire who’s been helping the NYT stay afloat in recent years. King, 78, would be the key star at the helm of Ora.tv, Slim’s new online-only television network, which is set to launch later this year. Good idea? Bad? We’ll say this much: Piers Morgan is a pretty solid replacement for King.
From Spanx to big bucks: Meet the youngest self-made female billionaire: Sara Blakely’s line of slimming undergarments, which she started in 2000, has made the 41-year-old one of the newest entrants on the Forbes billionaire list. Also included: Tesla Motors founder Elon Musk. source
In what could be good news for Bruno Mars, experts think that lottery jackpots could hit $1 billion dollars someday. Excuse us while we blow our money on pieces of paper with numbers on them. (EDIT: Yes, it’s a Travie McCoy song, but Bruno sang the hook. Zzzzzzz.)
Billionaire rich guy plans to give Vladimir Putin a run for his money: Mikhail Prokhorov, a gold-mining magnate who owns the New Jersey Nets, is one of two men who just announced plans to run against Vladimir Putin in 2012. He’s been stewing since he got kicked out his party for fighting with the Kremlin. source
» And he only paid 17.4% in taxes: Buffett, whose monetary gains are the subject of scrutiny because of the fact that he’s the inspiration for Obama’s “Buffett Rule” (a notable part of the president’s jobs plan), released the earnings after being prodded by Rep. Tim Huelskamp of Kansas, a Republican. Of note: Just $39,814,784 of his earnings were taxable, with the rest going to deductions and exemptions (like, say, his fairly robust charitable givings). And in case you’re wondering, Warren’s tax rate is low largely because he makes most of his income through investing. In the end, how much did he pay in taxes? A paltry $7 million (or a mere nine percent in taxes on adjusted gross income).
Middle-class families shouldn’t pay higher taxes than millionaires & billionaires. It’s hard to argue against that.President Obama (via thedailyfeed)
Remember how Warren Buffett wrote that the government should raise the taxes of the super-wealthy … you know, folks like him? Well, it looks like someone with a lot of power to put that plan into action read that New York Times editorial. Obama’s going to make a push to tax the super-wealthy (those who make more than $1 million per year) at the same rate as the middle-class, and he’s calling it the “Buffett Rule.” Great selling point for Obama, but will it be enough for all the other rich people in Congress? Good question. (photo via Medill DC) source
I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most wouldn’t mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.Warren Buffett • Arguing in an editorial for the New York Times (titled, fittingly, “Stop coddling the super-rich”) that Congress needs to raise his taxes and those of people with incomes topping $1 million. “My friends and I have been coddled long enough by a billionaire-friendly Congress,” he writes. “It’s time for our government to get serious about shared sacrifice.” Wait … a super-rich guy offering more money up in taxes? Be still our hearts. And don’t tell the Koch brothers … they might disagree with this stance. source (via • follow)
» Widening his lead: Carlos Slim has not only benefited by expanding his own personal wealth (we’re sure that New York Times investment was a huge part of all that … heh), but the two guys directly behind him – Bill Gates and Warren Buffett – have been giving away much of their wealth lately. Slim has too, but he’s kept a tighter grip on it than those two.
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