Icahn Pours Cold Water On Stocks, Says "Market Could Easily Have A Big Drop"

Carl Icahn, who is currently speaking at the Reuters Global Investment Outlook Summit, just poured cold water over the Fed's 16,000 DJIA EOD price target.ICAHN: ‘VERY CAUTIOUS ON EQUITIES, MARKET COULD EASILY HAVE BIG DROP'ICAHN SAYS MANY COS. EARNINGS ARE A ‘MIRAGE,’ REUTERS SAYSICAHN: DOESN’T WANT FIGHT WITH APPLE,NO PLANS TO WALK AWAYBut... but.. two POMOs... Still, not too late for K-Fed and his merry unlimited balance sheet trading men to pull a record third POMO today and keep the "wealth effect" illusion going. The credit cycle is getting long in the tooth... Was it just a month ago that we warned "Carl Icahn's nightmare" was about to occur? - as the credit market became saturated...With the inability to proxy-LBO every and any firm, the fun ends - as Icahn just let everyone know... it's called a credit 'cycle' for a reason.Of course - it's all about carry..Average: Your rating: None Average: 4.9 (7 votes)