Carl Icahn, the billionaire investor who offered the Trump Taj Mahal in Atlantic City week that is last Hard Rock Global, can be a casual economic advisor to President Donald Trump.
Carl Icahn has added wealth that is much his portfolio in the currency markets since his friend became president, but now the billionaire believes a retraction is in store.
The 45th commander-in-chief says his billionaire pal is ‘innately in a position to anticipate the long run’ because it relates to economies. If that’s true, investors might be smart to follow Icahn’s lead in betting up against the Dow that is surging Jones NASDAQ composite indexes.
Icahn, whose holdings include Trump Entertainment Resorts, is worth around $17 billion. But Icahn Enterprises is betting against the rally that is continued Wall Street.
CNN Money reports that Icahn is shorting 1.3 shares for every one share he’s purchasing. Shorting stocks may be the activity of committing to purchasing shares at a date that is later. Icahn wins if the ongoing company loses value between now while the purchase date.
‘I am concerned at this point that the market has run ahead of itself,’ Icahn told the financial news outlet.
The markets are on a strong run since Trump won the presidency, but now his economic advisor is hedging their wagers on a correction. But not all of Trump’s casino bros are pessimistic on the economy.
Steve Wynn, who is the newly tapped finance ch Continue reading “White House Economic Advisor Carl Icahn Bearish on Stock Market”