“Everybody loves this market,” jokes a hursuit Carl Icahn fresh from his eBay exigencies, “everybody is buying this and buying that… we have a lot of hedges on.” However, Icahn – who knows better than most just how one can financially engineer a company – says “there is reason to be cautious… a lot of the earnings are sort of artificial.” While proclaiming that the Fed “did a great job in saving the economy,” Icahn laughs that “with these low interest rates it’s easy to fake earnings… and I don’t think that can continue forever.” Simply put, the billionaire activist investors concludes, you can’t print money forever and “that there will be a major correction.”
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