Icahn has stated last year that he doesn’t know when the bear market will arrive, but that it’s definitely coming. And that it did. The US has been in a bear market all year long.
Now Icahn has come out recently during the MarketWatch’s Best New Ideas in Money Festival and warned investors that “the worst is yet to come.”
There are only a handful of investors who cause me to stop in my tracks and listen when they speak, and Icahn is one of them. He is an honest man, a powerful man, and while not a stock market technician, understands the health of companies extremely well.
The good news is that Icahn sees a strong bounce back once the bear market is over. Icahn said he thinks that there are companies out there that are cheap today and that will get cheaper [as they fall with the wider market]. Cathie Wood has suggested that she doesn’t expect her companies to continue to fall with the wider market because they have already bottomed if the US is in a recession.
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