Carl Icahn, the billionaire investor who offered the Trump Taj Mahal in Atlantic City week that is last Hard Rock Overseas, is also a casual 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 future’ since it pertains to economies. If that is true, investors might be smart to follow 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 reports that Icahn is shorting 1.3 shares for every one share he is buying. Shorting stocks may be the activity of committing to buying shares at a subsequent date. Icahn wins if the company loses value between now plus 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 areas are on a strong run since Trump won the presidency, but now their economic advisor is hedging his bets on a correction. But only a few of Trump’s casino bros are pessimistic regarding the economy.
Steve Wynn, who is the newly tapped finance chair of the Republican