Carl Icahn, who is currently speaking at the Reuters Global Investment Outlook Summit, just poured cold water over the Fed's 16,000 DJIA EOD price target.
- ICAHN: ‘VERY CAUTIOUS ON EQUITIES, MARKET COULD EASILY HAVE BIG DROP'
- ICAHN SAYS MANY COS. EARNINGS ARE A ‘MIRAGE,’ REUTERS SAYS
- ICAHN: DOESN’T WANT FIGHT WITH APPLE,NO PLANS TO WALK AWAY
But... but.. two POMOs... Still, not too late for K-Fed and his merry unlimited balance sheet trading men to pull a record third POMO today and keep the "wealth effect" illusion going.
The credit cycle is getting long in the tooth...
Was it just a month ago that we warned "Carl Icahn's nightmare" was about to occur? - as the credit market became saturated...
With the inability to proxy-LBO every and any firm, the fun ends - as Icahn just let everyone know... it's called a credit 'cycle' for a reason.
Of course - it's all about carry..