Carl Icahn, the billionaire investor who sold 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 market 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 in a position to predict the long run' since it pertains to economies. If that is true, investors might be smart to adhere to Icahn's lead in betting 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's purchasing. Shorting stocks is the activity of committing to buying shares at a subsequent date. Icahn...