Carl Icahn, the billionaire investor who offered the Trump Taj Mahal in Atlantic City week that is last Hard Rock Global, can also be an informal economic advisor to President Donald Trump.
Carl Icahn has added wealth that is much his portfolio in the stock exchange since his friend became president, but now the billionaire believes a retraction is in store.
The commander-in-chief that is 45th his billionaire pal is ‘innately able to anticipate the near future’ as it relates to economies. If that is correct, investors might be smart to follow along with Icahn’s lead in betting up against the surging Dow Jones and NASDAQ composite indexes.
Icahn, whose holdings include Trump Entertainment Resorts, is worth around $17 billion. But Icahn Enterprises is betting against the continued rally on Wall Street.
CNN Money states that Icahn is shorting 1.3 stocks for every one share he’s purchasing. Shorting stocks is the activity of committing to purchasing shares at a date that is later. Icahn wins if the ongoing company loses value between now therefore the purchase date.
‘I have always been concerned at this point that the market has run ahead of itself,’ Icahn told the news outlet that is financial.
The markets have already been on a run that is strong Trump won the presidency, but now their economic advisor is hedging their bets on a correction. But not all of Trump’s casino bros are pessimistic on the economy. Continue reading “White House Economic Advisor Carl Icahn Bearish on Stock Marketplace”