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Alternative Market Briefing

Activist hedge fund manager Carl Icahn sees major stocks correction

Tuesday, November 18, 2014

Komfie Manalo, Opalesque Asia:

Activist hedge fund manager Carl Icahn is expecting a market sell-off any time in the next three to five years. Icahn made the prediction during the Reuters Investment Outlook Summit in New York.

He was quoted as saying, "I am still concerned that one day you'll see a break like you had a few weeks ago, but it won't come back. It's really a question of when that is going to happen, in my opinion. It could be three years, it could be three months, it could be three days. But I really do believe there will be a major correction in the next three to five years, at least."

Icahn made the statement even as the Standard & Poor's 500 index gained more than 10% year-to-date and even as many investors have already moved on after the market sell-off last October. Most investors believe that the low interest rate and the upbeat mergers and acquisitions activities will be sufficient to sustain a market bull.

He continued, "We short S&Ps against a very large portfolio. We have the benefit of not having to worry that much about hedge fund partners."

The 78-year-old billionaire hedge fund manager admitted that he could be wrong in his prediction but maintained that he had been right more often that he’s been wrong in his storied history of predict......................

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