Carl Icahn's $9 billion market short position mistake.

Billionaire activist investor Carl Icahn admits he was wrong to take a massive short position on the market that lost $9 billion, including $1.8 billion in 2017 and $7 billion between 2018 and Q1 2023. Icahn's investing arm, Icahn Enterprises, used a strategy of shorting broad market indexes, individual companies, commercial mortgages, and debt securities. Icahn also addressed margin loans he borrowed from IEP, which were recently highlighted by short-seller Hindenburg Research in a report accusing the company of inflating asset values.