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Here’s What Billionaire Value Hunter Carl Icahn Is Buying: Transocean LTD (RIG)

Icahn Associates closed out its stakes in Commercial Metals Company (NYSE:CMC) and Oshkosh Corporation (NYSE:OSK). Oshkosh doesn’t seem like a bargain now, with its recent P/E ratio of 15 well above its five-year average of 11. Its defense operations are vulnerable to military spending cutbacks, but it also has non-military operations, such as in fire and emergency equipment. In its last quarter, it topped earnings estimates, though revenue was down.

We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. 13-F forms can be great places to find intriguing candidates for our portfolios.

The article Here’s What Billionaire Value Hunter Carl Icahn Is Buying originally appeared on Fool.com and is written by Selena Maranjian.

Longtime Fool contributor Selena Maranjian owns shares of Netflix. The Motley Fool recommends and owns shares of Netflix. It also owns shares of Transocean and has the following options: long Jan 2014 $20 calls on Chesapeake Energy, long Jan 2014 $30 calls on Chesapeake Energy, and short Jan 2014 $15 puts on Chesapeake Energy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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