market folly

Anthony Scaramucci's rebooted show Wall Street Week just finished its third episode and this week they had on activist investor Carl Icahn.

He talked about the markets and said "I'm very concerned about the market.  You have a situation where this market keeps going up and up with zero interest rates and that's what's really pushing it.  And yet, a lot of the economic news isn't all that good and also, perhaps more importantly, earnings aren't good."

"We're very hedged."  It sounds like he's using CDS and derivatives to hedge his portfolio.

Icahn said he's even more worried about something else:  "What's even more dangerous than the actual stock market is the high yield market.  I think it's ridiculously high." 

He then went to talk about activism and how he's been involved over the years.

And lastly, he talked about his investment in Apple (AAPL) and how it's almost doubled since he first got involved but he hasn't sold a share (and he's actually bought more on the way up).

Embedded below is the video of Carl Icahn's appearance on Wall Street Week:



For other great episodes of Wall Street Week, check out their interviews with JANA Partners' Barry Rosenstein as well as DoubleLine Capital's Jeff Gundlach.