In this video, SmallCapSteve analyzes the short report issued by Hindenburg Research on Icahn Enterprises, a holding company owned by Wall Street legend Carl Icahn. SmallCapSteve delves into the report's claims that IEP units are inflated by over 75% and the stock trades at a 218% premium to net asset value, as well as the high dividend yield of 15.8% which Hindenburg claims is unsustainable. He also examines IEP's largest positions and how they have performed year-to-date, as well as Icahn's margin loans and their potential risks. Throughout the video, SmallCapSteve emphasizes the importance of critical thinking when analyzing short reports and making investment decisions.
0:00 – Introduction
2:00 – Who is Carl Icahn and what is Icahn Enterprises?
4:00 – Who is Nate Anderson and what is Hindenburg Research?
4:50 – How Jefferies has helped flog the stock
6:00 – IEP vs. Its Peers
8:00 – IEP's largest positions and how they have done YTD
9:10 – Icahn's margin loans
10:33 – Conclusion
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