"Look Out Below": Carl Icahn Issues Major Warning On Markets, Warns Rally Will End In "Painful Correction"
"Look Out Below": Carl Icahn Issues Major Warning On Markets, Warns Rally Will End In "Painful Correction" It has been a difficult year - and decade - for billionaire investor Carl Icahn, who despite making $1.3 billion by shorting malls via CMBX 6, a trade we first pitched several years ago as the Big Short 2.0, failed to make waves with any other prominent investments and in fact has been anecdotally net short during the market's historic surge in the past two years. Yet despite a spotty recent investing track record, the 84-year-old legendary corporate raider remains bearish on the fence about the market's ludicrous ascent, as he made clear in an interview with CNBC's Scott Wapner in which Icahn warned of the possibility of a significant decline for stocks, and predicted that "wild rallies" in the market always meet a dramatic end. “In my day I’ve seen a lot of wild rallies with a lot of mispriced stocks, but there is one thing they all have in common. Eventually they hit a wall and go into a major painful correction.
"Look Out Below": Carl Icahn Issues Major Warning On Markets, Warns Rally Will End In "Painful Correction"
"Look Out Below": Carl Icahn Issues Major Warning On Markets, Warns Rally Will End In "Painful Correction" It has been a difficult year - and decade - for billionaire investor Carl Icahn, who despite making $1.3 billion by shorting malls via CMBX 6, a trade we first pitched several years ago as the Big Short 2.0, failed to make waves with any other prominent investments and in fact has been anecdotally net short during the market's historic surge in the past two years. Yet despite a spotty recent investing track record, the 84-year-old legendary corporate raider remains bearish on the fence about the market's ludicrous ascent, as he made clear in an interview with CNBC's Scott Wapner in which Icahn warned of the possibility of a significant decline for stocks, and predicted that "wild rallies" in the market always meet a dramatic end. “In my day I’ve seen a lot of wild rallies with a lot of mispriced stocks, but there is one thing they all have in common. Eventually they hit a wall and go into a major painful correction.