Carl Icahn Discusses A Schizophrenic Market, Sees "Bloodbath" Risk, Blasts REITs
Carl Icahn is pessimistic on the market, seeing a "real risk of a bloodbath," and hates REITs. Being a rational human being, who does not realize our precarious position vis-a-vis the Helicopter Ben's Banana Economy, expect another 1,000,000% rally in REITs. Some soundbites:
- "It's a myth to say the market is a good indicator of the economy."
- "I think that you have to be cautious. It's on a precipice right now and it could really go either way."
- "The market is schizophrenic at this point. So you have trillions of dollars literally in consumers hands, they don't want to spend it, they're afraid to spend it. And they put it in these funds - these funds will go buy... Real Estate"
- "Real Estate is a perfect opportunity to short it."
- "Take these REITs today: why would any individual buy a REIT that has underlying value of buildings that if you went to sell them you could never ever liquidate these portfolios."
- "I think there's overcapacity in the office market and in shopping centers because you have a secular change in the way retailers are behaving and the way consumers are behaving."
- "There is so much money going into these funds, that they have nothing to do than to buy."
- "The amateur investor is going to get hit badly again because they're pouring money into these funds. Some of these funds managers I do not think are experienced enough to handle some of the distressed stuff they're buying and they're going to get burned."