Carl Icahn is warning that the market rally could end in a painful correction and hedge accordingly

Carl Icahn is warning that the market rally could end in a painful correction and hedge accordingly

Billionaire investor Carl Icahn has warned of the possibility of a big drop in stocks at some point, in a statement to CNBC. Scott Wabner That the market’s “wild rides” always meet an exciting ending.

Wapner reported Icahn’s warning about “Half time report“During a turbulent day for the stock market.

“In my day I saw a lot of wild rallies with so many wrongly priced stocks, but one thing they have in common. Happens, but when that happens, look below,” Icahn said. “The other thing they have in common is that it’s always said, it’s different this time. But it never turns out it’s the truth.”

The investor refused to go into details of his positions, but told Wapner he was well surrounded.

Icahn’s cautionary statement came in the name of The US stock market fell sharply on the first trading day of the new year. The three major indexes were down more than 3% near midday, with the Dow Jones down as much as 700 points.

The rough start to 2021 comes after a remarkable year for markets, with the S&P 500 index rising 16% and some tech stocks seeing massive jumps even as the Covid-19 pandemic spreads across the global economy.

The rapid rally and inflated stock valuations have made some Wall Street strategists wary of the market’s path in the near term. The market, Mike Wilson, Morgan Stanley strategist, said in a note to clients Monday that “Time to step back. “

READ  경제, 정치, 노동의 미래를 재편할 위협이 되는 자동차 노동자 파업에 대해 알아야 할 6가지 중요한 사실

Icahn made his name as an activist investor. Herbalife announced Monday morning that it will buy back $ 600 million of shares from Icahn and that the activist’s representatives will be out of the board of directors. Icahn said in a statement that the time to be active in Herbalife, which he has invested in more than eight years, is over but intends to remain a shareholder at a smaller level.

More From Author

Patty Jenkins talks about tension with Warner Bros. about Wonder Woman

Patty Jenkins talks about tension with Warner Bros. about Wonder Woman

일본이 도쿄에 도착하면 이번 주 긴급 재취업

일본이 도쿄에 도착하면 이번 주 긴급 재취업

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다