Billionaire activist Carl Icahn is reportedly betting on the death of the mall — and could make $400 million if things go his way
|11/20/2019||Posted by BusinessMediaguide.Com under General World News||
- Billionaire investor Carl Icahn is piling into a massive bet against malls and could see a $400 million windfall if shopping center owners default on their loans, The Wall Street Journal reported Tuesday.
- Icahn has already lost millions on the short trade, but he plans to hold his position and may even add to the stake, people familiar with the investment told WSJ.
- The investor’s trade involves credit-default swaps tied to the mortgage-based CMBX 6 index. Should malls included in the index default on their debt, Icahn could see his investment’s value skyrocket.
- The swaps are similar to those made famous by read more >>>