Icahn On The Market: 'I Wonder About These Valuations'
CNBC interviewed Carl Icahn Thursday morning on his hedge fund strategy and current view of the markets. The fund manager was disappointed with the market's valuation on a large set of companies traded publicly.
"There are times I look at this market and I wonder about these valuations," said Icahn. Investors are paying "$25-$30 billion for these companies and they don't have any patents, they don't have any technology."
Despite Icahn's reported 149 percent net short hedge fund, the investor said he's actually long on stocks.
"We are net short at the fund, but if you look at the overall picture, we are long," because of the fund's railroad and refinery sensitive holdings, said Icahn.
The SPDR S&P 500 500 ETF Trust (NYSE: SPY) traded recently at $211.48, down 0.4 percent on the day.
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