Carl Icahn, the billionaire investor who sold the Trump Taj Mahal in Atlantic City week that is last Hard Rock Global, is also a friendly 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 45th commander-in-chief says his billionaire pal is ‘innately able to predict the long run’ because it pertains to economies. If that’s true, investors might be smart to check out 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 companies is betting against the continued rally on Wall Street.
CNN Money reports that Icahn is shorting 1.3 stocks for every one share he’s buying. 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 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 happen on a strong run since Trump won the presidency, but now their economic advisor is hedging his wagers on a correction. But not absolutely all of Trump’s casino bros are pessimistic in the economy.
Steve Wynn, who is the newly tapped finance se Continue reading “White House Economic Advisor Carl Icahn Bearish on Inventory Market”