Icahn Takes $1.6 Billion Loss on Hertz

The transcript discusses the impact of the virus on major investors like Carl Icahn and Bill Ackman. Carl Icahn exited Hertz with a $1.6 billion loss after being its top shareholder for six years. Bill Ackman decided to exit Berkshire Hathaway and Blackstone, questioning the value of holding Berkshire if it doesn't utilize its cash reserves for acquisitions or stock repurchases.

What major event is discussed in relation to Carl Icahn and Bill Ackman?

• Their acquisition of a major retail chain

• Their joint investment in a new tech startup

• Their exits from major companies due to market changes

• Their collaboration on a philanthropic project

How long did Carl Icahn hold onto his investment in Hertz?

• Three years

• Six years

• Nine years

• Twelve years

What was the financial impact of Carl Icahn's exit from Hertz?

• A minor loss of $500 million

• A break-even outcome

• A profit of $1.6 billion

• A loss of $1.6 billion

What was a key reason for Bill Ackman's decision to exit Berkshire Hathaway?

• Berkshire's lack of investment in new acquisitions

• A need to liquidate assets for another project

• A disagreement with Warren Buffett

• A strategic shift towards technology stocks

What is a concern regarding Berkshire Hathaway's cash reserves?

• They are being used for risky investments

• They are being invested in low-yield bonds

• They are not being utilized for acquisitions or stock repurchases

• They are being depleted rapidly