IEP - Partner with Carl Icahn at 1.2 x NAV

IEP - Partner with Carl Icahn at 1.2 x NAV

Icahn Enterprises L.P. (IEP) - Partner with Carl Icahn at 1.2 x NAV.
Recommended to subscribers around Apr 15th 2014 at $92

Themes:
1. Paying 1.2 times NAV has been a good investment in IEP looking forward 2-3 years
2. Partner with Carl Icahn which keeps getting better with experience
3. New Hedge Fund by Brett Icahn and David Schechter 35% owned by IEP gives free upside
4. 6.5% Distribution covered by Cash Flows (Icahn who owns 90% of IEP takes Units)
5. Attractive mix of assets positioned for continued economic recovery in US (Energy, RailCar, Gaming, RealEstate, Auto etc)
6. Fontainebleau Las Vegas is a hidden asset with upside
7. Stock Portfolio (EBAY, AAPL, FRX, TLM, CHK, NUAN, HOLX) add upside