Submitted by Tyler Durden on 06/24/2015 13:16 -0400
We suspect this will be the last time billionaire investor Carl Icahn is invited on CNBC. Having sold CNBC darling NFLX, he crushed the two main memes of CNBC’s raison d’etre – buy stocks, because where else are you going to put your money – “what’s better – making 2% or losing 30% as people did in 2008…right now it’s an extremely dangerous time;” and the next leg of this bull market will come from an improving real economy – “the economy is not picking up, it is artificial due to low interest rates.” The market has way over-estmated how long this will last, Icahn concludes, “keep your powder dry – why do have to own anything risky? It’s just nonsensical.”
“The longer [The Fed] waits to take the patient off the medicine, the more difficult it’s going to be”
Enjoy… (a very quiet CNBC crowd)
When the camera pans across the panel members they look like pillars of stone when listening to Ichan. The truth hurts.
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I too, noticed how the CNBC gang was strangely silent. I guess Ichan is too well-respected for them to attempt to talk over him like they usually do when a guest starts getting close to the truth..
Ichan is full of S.
He’s still pushing the “economy is getting better” narrative because he is the poster child for the 0.1% and he is among those who cannot actually sidestep a massive asset price reset.
He may see the train coming and he may be stuck on the crossing between the gates, but he still really doesn’t face the fact that AAPL is a fashion company masquerading as a tech firm, with a market cap larger than firms that provide the backbone of all energy use.
He’s like Buffet. Full of it.