scorecardresearchAre we in a bear market? Here's what Carl Icahn thinks

Are we in a bear market? Here's what Carl Icahn thinks

Updated: 11 Nov 2022, 08:43 AM IST
TL;DR.
Carl Icahn, the CEO of Icahn Capital, tells CNBC in an interview that he thinks we are still in a bear market and the US is already in a recession.
FILE - In this Oct. 11, 2007, file photo, activist investor Carl Icahn speaks at the World Business Forum in New York. Sheila Penrose is retiring from McDonald's board, with the company steadfast in its support following activist investor Carl Icahn's criticisms of its pork purchases. McDonald's said Monday, Aug. 22, 2022, that Penrose's retirement is effective on Sept. 30. (AP Photo/Mark Lennihan, File)

FILE - In this Oct. 11, 2007, file photo, activist investor Carl Icahn speaks at the World Business Forum in New York. Sheila Penrose is retiring from McDonald's board, with the company steadfast in its support following activist investor Carl Icahn's criticisms of its pork purchases. McDonald's said Monday, Aug. 22, 2022, that Penrose's retirement is effective on Sept. 30. (AP Photo/Mark Lennihan, File)

(Bloomberg) -- Carl Icahn, the CEO of Icahn Capital, tells CNBC in an interview that he thinks we are still in a bear market and the US is already in a recession.

He believes the Federal Reserve needs to keep raising interest rates and that inflation is far from over. He would like someone to try to explain to him how “because rates just went up 2% or 3%, inflation is over.” As a result, he is short the S&P 500.

Speaking of his recently revealed investment in Crown Holdings, he says it isn’t he favorite company “but it’s really good.” He doesn’t like to see some of the company’s diversification and so “we may have a proxy fight with them.” His favorite stock is CVR Energy.

Commenting on Twitter, he believes Elon Musk is the perfect guy for Twitter and would have gone in on the Twitter deal if he had been asked. He said that “at the right price” he would’ve been willing to put $1 billion into the deal to buy the company.

 

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First Published: 11 Nov 2022, 08:43 AM IST