Carl Icahn, the billionaire investor who offered the Trump Taj Mahal in Atlantic City last week to Hard Rock Overseas, can be an informal economic advisor to President Donald Trump.
Carl Icahn has added much wealth to his portfolio in the currency markets since his friend became president, but now the billionaire believes a retraction is in shop.
The 45th commander-in-chief says his billionaire pal is ‘innately able to anticipate the long run’ as it pertains to economies. If that is true, investors might be smart to follow along with Icahn’s lead in betting 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 continued rally on Wall Street.
CNN Money reports that Icahn is shorting 1.3 shares 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 in the event that ongoing company loses value between now as well as the purchase date.
‘I am concerned at this time that the market has run ahead of itself,’ Icahn told the news outlet that is financial.
The markets are on a run that is strong Trump won the presidency, but now their economic advisor is hedging his wagers for a correction. But not totally all of Trump’s casino bros are pessimistic on the economy.
Steve Wynn, who is the newl Continue reading