Carl Ichan is Back

Carl Ichan Raises his Stake in FDML

It seems like Carl Ichan is back. About a week ago, we highlighted the fact that Ichan announced that he was bullish in an aftermarket CNBC interview. And consequently we followed up and pointed out a few names that he was involved in. One of them being Motorola Mobility Holdings (MMI:NYSE). One of our goals at PSE is to provide you with a wide variety of ideas and ultimately let you make the choice.

Today, as many off you know, MMI was acquired by Google (GOOG:NYSE) today for $12.5 billion dollars as the wave of “patent fever” continues.

Right now, we want to provide you with Carl Ichan’s most recent buy. On August 10th, Ichan raised his stake in Federal-Mogul Corp. (FDML:NASDAQ) by purchasing an additional 139,899 shares that averaged $15.24. Even though the layered up FDML purchase wasn’t exactly enormous by Ichan’s standards, his buy reversed sentiment because there were reports that he was planning to liquidate his shares in the $24 range. This change of pace in FDML must have been based on a discounted value in the shares as the stock dipped in the recent decline. For now, we will continue to follow the activity of Carl Ichan, because it often makes sense to ride the hot hand.

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