Carl Icahn had a disastrous day. The public side of Icahn's investments, Icahn Enterprises, lost $69 million in the second quarter.
The long positions in Icahn's $1.7 billion fund were mostly flat in Q2, but his short positions dragged the fund down to a loss of 6% for the quarter.
Ichan explained this is due in large part to his belief that high-yield bond market would collapse. He added that maintaining interest rates at or near 0% has created a huge market bubble and it is a symptom that shows exactly what is wrong with the market.
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