Wednesday, June 24, 2015

Icahn warns market is ‘extremely overheated’ - from TRUNEWS

Activist investor Carl Icahn took to Twitter and CNBC Wednesday to issue a stark warning to investors: “I think the public is walking into a trap again as they did in 2007,” Icahn told CNBC.

Specifically, the 79-year-old investor warned of a bubble in high-yield debt. The prominent investor joins a chorus of voices pointing at frothiness in the so-called junk-bond market, including DoubleLine Capital founder Jeff Gundlach.

In two tweets published on Wednesday, Icahn cautioned against listening to so-called permabulls, saying the 2008 crisis might have been avoided if more investors had warned about the risk of a bubble in 2007, as he is attempting to do now.

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