By The Associated PressNEWS: Icahn Enterprises LP, the firm run by billionaire Carl Icahn, reported Monday that its third-quarter net income increased more than five times as its investments proved more profitable. Icahn also said that there is no better time to be an activist investor, given low interest rates and mediocre management at many U.S. companies DETAILS: Icahn said in a statement that "there has never been a better time than today for activist investing, if practiced properly." Extremely low interest rates are making acquisitions much less costly. He also said that there is awareness by many institutional investors that mediocre management and inadequate boards at many companies must be dealt with in order to end high unemployment and be able to compete in world markets. He expects both factors will contribute to his firm's growth in the future. NUMBERS: The net income attributable to Icahn Enterprises rose to $472 million, or $4.10 per unit, for the quarter that ended Sept. 30. That is up from $84 million, or 75 cents per unit, in the same quarter last year. Total revenue increased to $5.72 billion from $4.5 billion, helped by gains in investment activities and other income. FUTURE: Icahn noted that an investment in his firm's stock at the beginning of 2000 has increased by approximately 1,500 percent, or an average annual return of 22 percent, through Oct. 31. The billionaire said that he is proud of the company's record over the past decade but given the current conditions, he believes this record will "pale in comparison to what is yet to come." STOCK: Shares of the New York-based firm increased $3.32, or 3.3 percent, to $105.42 in midday trading. The share price has more than doubled since the start of 2013.