Ironically, Carl Icahn - poster-child of the leveraged financial engineering that has overtaken US equity markets on the back of Central Bank largesse - told CNBC that he was "very nervous" about US equity markets. Refelecting on Yellen's apparent cluelessness of the consequences of her actions, and fearful of the build of derivative positions, Icahn says he's "worried" because if Yellen does not understand the end-game then "there's no argument - you have to worry about the excesssive printing of money!" So in 12 hours, we have been told: some sectors are stretched (Yellen) [6], there is a bubble but we don't want to pop it (Fisher) [7], when the Fed ends QE, there'll be abear market (Druckenmiller) [8], and now Icahn is "worried about markets." Cue, Cramer explaining how none of these buffoons know anything about stocks...
"The Fed did a great job of dragging us out of themess that Wall Street created"
