Have Icahn’s Bearish Bets Finally Paid Off?

The famed investor’s portfolio suffered sharp losses last year, but its net short exposure may be paying off in a big way so far this year.

Carl Icahn (Victor J. Blue/Bloomberg)

Carl Icahn

(Victor J. Blue/Bloomberg)

Legendary investor Carl Icahn is best known for his activism.

On Wednesday, he lifted his stake in Occidental Petroleum to nearly 10 percent, according to the Wall Street Journal. Icahn was previously critical of the energy company’s planned $38 billion acquisition of Anadarko Petroleum Corp.

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