Carl C. Icahn has hit a bump along the hedge-fund road.
The activist investor’s $7.9 billion in hedge funds fell 7 percent between October and April, the biggest peak-to-trough loss since the funds opened in November 2004, Bloomberg News reported citing investors.
Mr. Icahn has notably lost money on Motorola, his biggest investment. The billionaire has also been unable to persuade executives at Yahoo and Biogen Idec to take his advice for boosting their stock prices.
