Icahn's investment fund posts first loss since 2008 on oil plunge

Billionaire activist investor Carl Icahn's publicly traded investment fund posted its first annual loss since 2008 last year, undone by plummeting oil prices, the company said in a regulatory filing on Friday. Results were hurt by a halving of oil prices between June and December amid a global supply glut. "This year's results were obviously disappointing, with the precipitous decline in oil prices impacting the profitability of many of our segments," Icahn said in a statement. The performance of Apple Inc (AAPL.O), the largest position in Icahn's investment segment, "softened the impact of the decline in oil prices and hopefully will continue to do so," Icahn said.

via Business News http://ift.tt/1Bn0y6Q