‘
‘I’ve seen a lot of wild rallies with a lot of wrong prices, but there’s one thing they all have in common. Eventually they hit a wall and go to a serious painful correction. No one can predict when that will happen, but if it does, check it out below. ‘
”
Billionaire investor Carl Icahn spoke to CNBC during Monday’s sale about the possibility of a major drop in the stock market. “Another thing they have in common is that it is always said, ‘it’s different this time,'” he continued. “But that never seems to be the truth.”
How does he prepare to navigate through a possible correction? Icahn apparently did not elaborate on the details of the composition of his portfolio, but said he was well hedged.
Here’s more from CNBC:
Separately, Icahn reportedly has about $ 600 million, or more than half of his stake, in Herbalife Nutrition Ltd. HLF downloaded,
and relinquishes its seats in the management of the company.
That leaves him with a $ 400 million stake.
As for the broader market, stocks beat during the trading session, with the Dow Jones Industrial DJIA.
more than 500 points down. The Nasdaq Composite COMP,
and S&P 500 SPX,
was also firmly lower.