[ad_1]
“
“I’ve seen a lot of wild rallies with a lot of mispriced stocks, but there is one thing they all have in common. Eventually, they hit a wall and go into a major painful fix. No one can predict when this will happen, but when it does, take a look below.
“
Billionaire investor Carl Icahn spoke to CNBC during Monday’s sale about the potential for a sharp drop in the stock market. “Another thing they have in common is that you always say, ‘It’s different this time,’” he continued. “But that never turns out to be the truth.”
So how is he preparing to navigate a possible fix? Icahn apparently did not go into details of the makeup of his portfolio, but said he was well covered.
Here is more from CNBC:
In addition, Icahn is said to have unloaded approximately $ 600 million, or more than half of its stake, in Herbalife Nutrition Ltd. HLF,
and relinquishes his seats on the company’s board of directors.
That leaves him with a stake of $ 400 million.
Looking at the larger market, stocks took a beating in Monday’s trading session, with the Dow Jones Industrial Average DJIA,
more than 500 points. The Nasdaq Composite COMP,
and S&P 500 SPX,
were also firmly inferior.
[ad_2]
Source link