THE FBI PROBE OPEN Pairings: ICAHN, MICKELSON, WALTERS
THE FBI PROBE OPEN presented by the SEC contested at the GREED GOLF CLUB
Playing for the prestigious BLS ROLE MODEL exemption.
What a Money Menage-A-Trois we have for the fans!
Let’s meet the players in this weekend’s marquee pairing.
Carl Icahn, the richest investor on Wall Street and an activist known for large takeovers, is at the Center of the FBI and SEC’s reported investigation. The Wall Street Journal reported yesterday that the probe centers around trading that took place in 2011 in Clorox (CLX), a company that Icahn tried and failed to take over at the time. The investigation is looking at whether Icahn leaked non-public details of his failed takeover bid to infamous Las Vegas sports bettor, Billy Walters, whom Icahn has a friendship with. The report speculates that Walters then passed on the information to golfer Phil Mickelson. Both Walters and Mickelson traded in Clorox stock around the time of the takeover bid. “We do not know of any investigation,” Mr. Icahn told the Journal Friday. “We are always very careful to observe all legal requirements in all of our activities.” The suggestion that he was involved in improper trading, he said, was “inflammatory and speculative.”
BLS OUTLOOK (ICAHN)
Although the FBI and SEC have secured some victories on Wall Street lately, we think they may be over-matched here going after Icahn, the heaviest of heavy hitters in the stock game. Anyone as successful at the stock market as Icahn has been cannot be operating with totally clean hands in our opinion, but with the endless supply of money that he has behind him, we suspect he will deliver a shit-pushing to the authorities much like he delivered to Bill Ackman on their opposing Herbalife positions. Here’s video of Carl’s demolishing of Ackman as well as a look at BLS all-time favorite financial reporter, Trish Regan.
It has been documented that Billy Walters and Carl Icahn are friends. Walters, one of the nation’s greatest and most successful sports gamblers, is also said to regularly play golf with Phil Mickelson. Walters and Mickelson’s friendship makes sense, as Phil loves to gamble on sports and they both have lived near San Diego. Walters (who’s apparently not as successful at the real estate game) told the WSJ, he and his wife have lost money on every property they’ve ever sold including their home in Carlsbad, California, near San Diego. Billy does not seek out the public spotlight and was not available for comment on the probe.
BLS OUTLOOK (WALTERS)
Anyone who claims to have “never had a losing year” betting sports should be investigated on a regular basis in our opinion. We at BLS are pretty sure that it’s not humanly possible to stay on the positive side each and every year for anyone betting games on a consistent basis. All the statistics say it’s not possible over the length of time that Walters has been involved in the game. Walters is known for always finding inside information (on games) that nobody else knows about and thus oddsmakers regard him as “the most dangerous bettor in Vegas”. He has to employ a team of people just to make bets for him at the various sports books as he’s been barred from most of the casinos around “Sin City”. We suspect he employs the same policies when it comes to stocks, though it may be tough for the feds to prove it. Here’s a great piece 60 Minutes ran on the mysterious man and the tactics he uses to take down the books.
Phil Mickelson, probably the most famous of the 3 players, has long been known as a person who enjoys gambling on sports. Obviously, the stock market is very similar to sports betting and anyone with the size of bank account that the 5-time major champion possesses is usually involved with Wall Street. The investigation was reportedly started more than 3 years ago, and besides the Clorox inquiry, investigators were also looking into trades that Mickelson and Walters made related to Dean Foods Co (DF), according to the Wall Street Journal. The New York Times cited people briefed on the investigation as saying that in that particular case, investigators are looking into trades placed around 2012 just before the company announced quarterly results. Mickelson said in a statement, “I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so…I wish I could fully discuss this matter, but under the current circumstances it’s just not possible.”
BLS OUTLOOK (MICKELSON)
We have a love hate relationship with Phil here at Busch League Sports. We love the way he plays golf with reckless abandon, we love the way he gambles with reckless abandon, we love the way he treats golf fans with respect and always sticks around to sign (legible) autographs. However, we hated the way he whined about the excess amount of taxes he has to pay for living in California. We have zero sympathy for a golfer who has made over $70+ million in career earnings alone (not to mention the reported $45 million he reportedly made last year alone in endorsements) crying about paying his fair share to the government. If these recent allegations are true, Phil was getting his revenge by cheating the system that is in place to make sure everyone plays on an even field (which we know is total Bullshit). How much is enough for these 3 players? They’re all filthy rich and it’s insulting to the common man that they would turn to these tactics just to pad their pockets. We know here at Busch League Sports that nothing will come of this investigation even if these guys were in the wrong. In America, money is nearly undefeated and these guys have a ton of it. Let’s end our tournament pairing preview with this classic episode of Entourage with Phil gambling on the course with Ari Gold.