“
“I’ve seen a lot of wild rallies with a lot of bad stock, but there’s one thing they all have in common. Eventually, they crashed into a wall and went into a major painful fix. No one can predict when it will happen, but when that happens, look below.
”
This is billionaire investor Carl Icahn who spoke to CNBC during Monday’s sale about the potential for a major stock market crash. “Another thing they have in common is that it’s always said, ‘This time it’s different,'” he continued. “But it never turns out to be the truth.”
So how do you prepare to explore a possible fix? Apparently, Icahn did not go into details about the composition of his portfolio, but said it was well covered.
Here is more information from CNBC:
Separately, Icahn unloaded about $ 600 million, or more than half of its stake, into Herbalife Nutrition Ltd. HLF,
and resigns from his positions on the company board.
That leaves him with a $ 400 million stake.
As for the broader market, the shares gained a beating during Monday’s trading session, with the DIA Jones Industrial Average DJIA,
of more than 500 points. The Nasdaq Composite COMP,
and S&P 500 SPX,
they were also firmly inferior.